For each of the situations below, research the applicable standards and type your answer in the space provided in Word document template provided for the assignment.1. Assume that you have an audit client who wishes to report on a tax basis, rather than GAAP.You recall that there are special purpose frameworks and want to know if the tax basis is specifically included as one such framework, so that you can look up the appropriate reporting. Select the specific paragraph from the applicable Statement on Auditing Standards that addresses whether the tax basisis a special purpose framework for purposes of audit reporting.