$1.$ John, a certified public accountant, was hired by Green Leaf Corporation to conduct an audit of their financial statements. During the audit, John failed to verify the accuracy of the company's revenue recognition practices, which resulted in an overstatement of revenue by $$1$ million. This overstatement misled investors and stakeholders about the company's financial health. How might John's failure to properly assess revenue recognition impact the credibility and reliability of Green Leaf Corporation's financial statements?

$2.$ Sarah, an accountant at Blue Sky Firm, was responsible for preparing tax returns for multiple clients. In one case, Sarah overlooked a significant tax deduction for a client, leading to an underpayment of taxes by $$50,000.$ This oversight resulted in penalties and interest being levied on the client's tax liability. What legal consequences could arise from Sarah's failure to accurately assess and report the client's tax obligations?

$3.$ Alex, a financial advisor, entered into an agreement with Red Star Company to manage their investment portfolio. Despite knowing the client's conservative risk tolerance, Alex recommended investing a significant portion of their portfolio in high$-$risk stocks without full disclosure of the associated risks. As a result, Red Star Company incurred substantial losses in their investments. How might Alex's actions be viewed in terms of breaching his contractual duty to provide suitable investment advice?