1. Which of the following includes client information and documentation that applies to multiple audits?

a. Bank confirmations

b. Lead schedules

c. Permanent file

d. Current file

2. Auditors are willing to accept a higher risk that their audit procedures may not detect a material misstatement ________.

a. when detection risk is high

b. when control risk is high

c. when control risk is low

d. when detection risk is low