a. In accordance with Malaysian Companies Act 2016, the auditor of a corporation have statutory rights and duties to its corporation. In the same vein as the responsibilities of auditors in verification and detection, an auditor is more like to a "watch dog" than a "bloodhound." He is required to dig deeper every time there is something questionable. His responsibilities are limited to determining and reporting the accurate financial situation of the corporation as of the time of the audit. Discuss what are the duties and rights of auditors in Malaysia under Section 266 of the Companies Act 2016. (14 marks)

b. According to the Companies Act 2016, it seems that SMEs and dormant companies will no longer be required to appoint auditors. This audit exemption will make it possible for start-ups and SMEs to realise further cost savings related to the operation of their businesses. Discuss why some SMEs are willing to conduct voluntary audits. (11 marks)