MN & Co., a firm of Chartered Accountants, was engaged to conduct the statutory audit of OP Ltd., a manufacturer of ready-made garments, for the…

MN & Co., a firm of Chartered Accountants, was engaged to conduct the statutory audit of OP Ltd., a manufacturer of ready-made garments, for the financial year 2024-25. The audit was conducted with different team members assigned to specific areas of responsibilities: Ms. Nishi was responsible for audit documentation and the assembly of the audit file.Mr. Paras was handling the auditor's responsibilities related to the assessment of going concern and he noticed that OP Ltd.'s use of the going concern basis of accounting is appropriate but a material uncertainty exists.Mr. Sanjay was focusing on the auditor's responsibilities concerning deficiencies in internal control. Each team member was tasked with ensuring compliance with applicable auditing standards in their respective areas to facilitate a thorough and effective audit process. Based on above facts, answer the following questions: (10 to 12)