Romeo Ltd is a listed public company that manufactures IT equipment. The company's financial year-end was 30th March 2022 and the statutory accounts are due to be signed one week after the board of directors meeting on 12th May 2022. During the course of the audit you become aware that the government has reviewed its budget in an effort to reduce spending. As a result, IT expenditure had major cuts. One of the major projects to be scrapped as a result of these cuts is the planned upgrading of the system protection software. You are aware that the company's budget for this year includes a major subcontract to the Department of Defence for this system. The company has been experiencing cash flow difficulties and has recently applied for a significant increase to a borrowing facility that is already fully drawn. Management is adamant that the company will continue to be viable. If necessary, it claims it can resort to cutbacks in its future capital expenditure programme, seek additional off-balance sheet financing and or reschedule existing debt agreements. State the audit procedures that may be carried out to try and determine whether or not Romeo Ltd is a going concern.

Carinal Ltd. specializes in the development of electronic components within quite acompetitive environment causing concerns for marketing and pricing. Its non-current assetsprimarily include IT software, property, and investments, and there have been additions tothese during the year.As audit manager, you are conducting a preliminary analytical review and associated riskanalysis for this client for the year ended June 30 2022. You have been presented with thefollowing draft financial information about Carinal with incomplete ratios and percentagescalculation.  INCOME STATEMENT                                                                                                   Year ended June 30                                                                                                           2022      2021                                                                                                          $'000      $'000Revenue…

You are an audit manager at Foyer & Associates and have been assigned to the audit of Modern Electrical Limited (MEL) for the year ending 30 June 2021. During the planning stage of the audit, you become aware of the following matters: a.MEL has significant loans from its bank. The bank has Indicated that it is concerned about MEL'S ability to meet specific loan covenants, particularly the return on total assets (net b. The aped trade accounts receivable listing indicates that the percentage of accounts receivable exceeding 90 days has jumped from 15 per cent to 37.5 per cent during the last 12 months. The credit manager hasindicated that the is because some of MEL'S Customers are currently'experiencing financial difficulty. This question.includos Part A and B part- a  for each of the following scenerio describe briefly how this matter is a fraud audit risk factor in relation  to mel's financial report.

Marilyn Terrill is the senior auditor for the audit of Uden Supply Company for the year ended December 31, 20X4. In planning the audit, Marilyn is attempting to develop expectations for planning analytical procedures based on the financial information for prior years and her knowledge of the business and the industry, including these: 1. Based on economic conditions, she believes that the increase in sales for the current year should approximate the historical trend in terms of actual dollar increases. 2. Based on her knowledge of industry trends, she believes that the gross profit percentage for 20X4 should be about 2 percent less than the percentage for 20X3. 3. Based on her knowledge of regulations, she is aware that the effective tax rate for the company for 20X4 has been reduced by 5 percent from that in 20X3. 4. Based on her knowledge of economic conditions, she is aware that the effective interest rate on the company's line of credit for 20X4 was approximately 12 percent. The…