You complete the audit of Munich Department Store and in your opinion the financ

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You complete the audit of Munich Department Store and in your opinion the financial statements are fairly presentd. On the last day of the audit, you discover that one of your supervisors assigned to the audit has a material investment in Munich. For this situation a. Identify if the condition requires a modification of or a deviation from an unqualified standard report. b. State the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, sate the additional information needed to make a decision. c. Given your answers in parts a and b, state the type of audit report that should be issued. If you have not decided on one level of materiality in part b, state the appropriate report for each alternative materiality level.

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