Required:a. What are the pros and cons of having the same audit standards for bo

Required:a. What are the pros and cons of having the same audit standards for both public and nonpublic entities?b.
In what ways might you expect auditing standards for audits of
nonpublic companies to differ from the standards for public companies?
Identify three (there are not necessarily three right or wrong
answers-this is an opinion and discussion question only). Identify the
rationale for your answers.c. A CPA is performing an audit of a
local municipality. Where should the auditor look to determine audit
standards that must be followed?d. What role should an audit
committee play in determining which standards an audit firm will use in
auditing their company? Explain.