You are an audit manager with a CPA firm that has been approached by a prospective client who wants to engage your firm to perform an audit for the current year. The prospective client is a small financial institution that another CPA previously audited, and your firm has not had any previous experience auditing this industry. You have been assigned to research this prospective client and develop a memo for your CPA firm's director, Sally Stone, about the specific procedures your firm should perform to determine whether to accept the client for audit, as well as what types of knowledge about the client and its environment should be obtained to plan the engagement, and how it should be obtained. Directions Write a memo to your CPA firm's director, Sally Stone, detailing the procedures the firm should perform to determine whether to accept the prospective client for audit, other types of knowledge about the client and its environment that should be obtained, and how to obtain it. Specifically, you must address the following rubric criteria: Specify the sources of information that should be used to obtain knowledge about prospective clients. Outline the types of knowledge about the prospective client that are