Question 3 (50 Points) Please identify the type of threat for each case, and decide how these cases affect auditor's independence. (4 for case and 8.5 for effect) The major shareholder of the client has a legal case on going with the auditor. Type of Threat: Effect on Auditor's Independence: Auditor worked as the CFO for the client until they hire someone for the CFO position. Type of Threat: Effect on Auditor's Independence: The client management promised they will purchase additional services if the auditor changes the report. Type of Threat: Effect on Auditor's Independence: The auditor invested $1,000 to the client company's shares. Type of Threat: Effect on Auditor's Independence