Reference no: EM132571379

Your firm is the auditor of Happy Days, an entity which provides hospitality packages at racecourses around a single country. The managing director of Happy Days has suggested the following to your managing partner:

i. All members of the audit team to be offered two free tickets to a major event at the racecourse of their choice,

ii. last year's audit senior should be seconded to the organization for a six-month period. The current year's audit is not yet underway,

iii. the firm also provide internal audit services.

Required:

Question 1: Discuss, if any of the above proposals would be acceptable to your firm and (if not state why not), and set out the main safeguards, if any, which would be required.