Essays 1. (11 points) Define what is meant by the term "subsequent event", In addition, identify the two different types of subsequent events and indicate how the auditor should modify the engagement (auditor's report) for the discovery of subsequent events (Uise an example of each to demonstrate these subsequent events). Define subsequent events: (3PTS) Example one: (4 Pts) Example two: (4 Pts) 2. The Code of Professional Conduct is very important for the auditing profession. The AICPA, State Boards, and other professional organizations spend a great deal of time and effort implementing, and reinforcing the ethical standards, and penalizing those who violate the ethical standards. Required: A. Why is the Code of Conduct important to the profession? (5 points)