Verma & Associates, Chartered Accountants, a firm majorly engaged in statutory audits and tax audits, is in the process of exploring the areas…

Verma & Associates, Chartered Accountants, a firm majorly engaged in statutory audits and tax audits, is in the process of exploring the areas of due diligence and investigation assignments. In this regard, the following events may be noted: (a) One of the clients of Verma & Associates, AstraTech Industries is planning to acquire a mid-sized manufacturing company, BlueWave Solutions to strengthen its supply chain and enter new markets. As part of the preliminary assessment, a due diligence exercise is to be undertaken to evaluate whether the proposed acquisition would create operational and strategic synergies. A comprehensive financial due diligence is planned and scheduled after agreement on the purchase price. The scope of this exercise includes an analysis of the target company's cash flow position, accounting policies, brief business history and promoter background, accounting information systems, and other relevant financial metrics. (b) During the due diligence engagement, an articled assistant raised a query with the engagement partner regarding the extent of review required. The assistant specifically sought clarification on whether a 'letter of comfort' issued by BlueWave Solutions to a bank fall within the scope of the due diligence review. (c) Additionally, Verma & Associates has received a written order from the Central Government directing it to conduct an investigation under Section 210 of the Companies Act, 2013, in relation to one of its audit clients, Rajul Ltd. In relation to this investigation, the firm is considering to take assistance of an expert to obtain professional input on certain specialised matters. Based on the above facts, answer the following: