Wasatch Corp. - Review the case facts regarding the fair vaiue measurements related to financial instruments of a hypothetical client - Using the information you have learned. For each of the two fair value measurements, you should do the following: Assess risk of material misstatement (RoMM) and explain why Determine how you might design an audit testing approach identify significant inputs and assumptions that are an area of audit focus Describe any issues regarding management's valuation approach or assumptions used Determine the proper level within the fair value hierarchy for each fair value measurement ' Report back with your findings