Access AICPA Auditing Standard AU-C 450,Evaluation of Misstatements Identified During the Audit(www.aicpa.org), to answer the following questions:

1. Describe the three types of misstatements that can be identified by the auditor. What factors may suggest that the misstatement is not an isolated occurrence?
2. What factors should the auditor consider in determining whether uncorrected misstatements are material, either individually or in the aggregate?
3. What documentation is required by AUC 450?