During the conduct of an audit, auditors may ldentify mlsstatements as a result of the completion of their substantive procedures. An Important actlvity performed in the completion stages of the audit is considering the materially of misstatements identifled curing the audit. Requlred: a. What is an uncorrected misstatemen? What is the auditors" responsiblify for uncorrected misstatements cluring the completion stage of the audit engagement? b. How do auditors use the rollover method and iron curtain method to evaluate uncorrected mistatements? c. Assume that auditors have identifed misstatements during the current audit that had a net impact of $100.000 on expenses and payables (both were understated). If the cumulative offect of prior uncorrected misstatements was $120.000 (overstatement of het income and understatement of liabilities) and materiality was 5150,000 , what would the auditors' concluslon be with respect to the misstatements under the follover method and iron curtain method? d. Based on your response to part (c), what adjustments (if any) would the auditors propose to the client's financial statements? e. What requirements do auditors have for communicating uncorrected misstatements identified during the audit engagement