Assignment II Listed below are policies or procedures that the Coleman Cove audit firm has in place. For each identified policy or procedure state if it is a Generally Accepted Audit Standard (GAAS) or a Quality Control Standard. (10 points) Standards Category: a. GAAS b. Quality Control Audit firm Policy or Procedure: 1. Determination on whether to accept or reject a new client. 2. A client evaluation form. 3. All personnel participate in continuing professional education 4. Conducting the audit with professional skepticism. 5. Answering an independence questionnaire. 6. Determine and apply materiality levels. 7. Audit staff work papers are reviewed by audit seniors, then managers. 8. Plan work and supervise assistants. Assignment II Listed below are policies or procedures that the Coleman Cove audit firm has in place. For each identified policy or procedure state if it is a Generally Accepted Audit Standard (GAAS) or a Quality Control Standard. (10 points) Standards Category: a. GAAS b. Quality Control Audit firm Policy or Procedure: 1. Determination on whether to accept or reject a new client. 2. A client evaluation form. 3. All personnel participate in continuing professional education 4. Conducting the audit with professional skepticism. 5. Answering an independence questionnaire. 6. Determine and apply materiality levels. 7. Audit staff work papers are reviewed by audit seniors, then managers. 8. Plan work and supervise assistants