Access AICPA Auditing Standard AU-C 450, "Evaluations of Misstatements Identified During the Audit" (see link below) to answer the following questions:

https://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00450.pdf

a. Describe the three types of misstatements that can be identified by the auditor. What factors suggest that the misstatement is not an isolated occurrence.

b. What factors should the auditor consider in determining whether uncorrected misstatements are material, either individually, or in the aggregate?

c. What documentation is required by AU-C 450?