• As an auditor, there is always a concern surrounding misstatements. Evaluate the following thought "Only misstatements that surpass the materiality threshold should be of concern."
• What are the main differences between Type I and Type II subsequent events? How is each addressed by the auditor as they try to complete the audit?
• How does an auditor decide which clients to accept? Are there any red flags that would indicate that a client would not be desirable to pursue?