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Star Industries, Inc is currently under the initial stages of an audit by GlowBright CPA...

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Accounting

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Star Industries, Inc is currently under the initial stages of an audit by GlowBright CPA furm. As part of the external audit, the two partners assigned to the audit client are attempting to determine what may constitute materiality for this client. Which of the following choices may constitute a material item for the auditors to consider when planning the next stages of the audit? (Select all) that apply.) The predecessor auditor of Star Industries, Inc. withdrew from the attest engagement of this client, citing differences in opinion on significant accounting methods. The partners of GlowBright CPA Firm have noticed that a contingent liability for a relatively small dollar amount has been recorded on the client's most recent balance sheet. The client's internal audit function is staffed by employees who are required to have a four-year degree in accounting or finance, and are encouraged to obtain the CIA (Certifred Internal Auditor) licensure

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