ACC568 Auditing

Question 1
Based on the information provided by Jack in relation to Framed Ltd, and making reference to specific common law and/or auditing standards, prepare a report which addresses the following:
An outline of all the elements of the tort of negligence;
Whether the liquidators of Framed are likely to succeed in their action against OEV;
Whether OEV can reduce their liability to the liquidators of Framed; and
Whether VicBank is likely to succeed in their action against OEV.
Question 2
Making reference to the Code of Ethics for Professional Accountants, advise Jack as to what he should do in response to the information he has provided regarding the audit of Switch Ltd. Use the following American Accounting Association (AAA) Model template to guide your response.