Independence is the cornerstone of the auditing profession. Discuss the statement in the light of accepting a gift, receiving a commission, marketing of auditing services and issuing of second opinion.

In each of the five circumstances below, indicate the threats and safeguards of the effects on professional ethics according to the Code of Professional Conduct. Give a reason for your answer. State the specific section of the code to which your answer relates.

Details information regarding presentation is as follows:
OBJECTIVE
The assessment task has been designed to assess your understanding theory and practice of Ethics and Independence. The main purpose of the presentation is to provide students with the opportunity to apply theory to practice in situations faced by auditors in difficult situations when dealing with clients and in the normal activity of auditing.

ASSIGNMENT GUIDELINE
When delivering presentation must consider the following points:
Contents of presentation:
1. Understanding of the Issues
2. Use of auditing standards
3. Application of auditing principles
4. Address the relevant issues
5. Quality of the answers
6. Referencing.