1. Your client, Shaheen Manufacturing Co., wants an audit so he can tell his bank that his financial statements have been certified to be 100% accurate. Explain why you, the auditor, are unable to provide absolute assurance on the accuracy of the financial statements.
2. Define executive and non-executive members of a board of directors. Explain why it is important for the board of directors to have a mixture of executive and non-executive members.
3. Compare and contrast auditor liability under contract law vs. tort law.