A client's bank is suing the auditor. The bank requested audited financial statements in connection with the client's loan application. Later, the client defaulted on the loan, and it was discovered that the financial statements were materially misstated. The bank is a primary beneficiary under common law because... The bank hired the auditor. The bank is protected from loss due to materially misstated financial statements by the Securities Act of 1933 . The bank is one of many banks that could have used the client's audited financial statements for a lending decision. The bank requested the audited financial statements. An auditor was assigned to audit accrued warranties for an auto manufacturer. Which of the below procedures would not be used to audit this estimated liability? Perform analytical procedures to predict warranty claims for the next twelve months using the number of new vehicles sold, extended warranties sold, and the average cost of warranty claims (among other variables). Analyze how the accrued warranty liability was calculated and evaluate the quality of the data used in the calculation. Send confirmations to customers who purchased warranties during the year being audited. Analyze warranty claims made for vehicles during the period following the balance sheet date to evaluate how well the client estimates the liability (i.e., the client's estimation process)