39 Which of the following statements describes why a properly designed and executed audit may not detect a material misstatement in the financial statements resulting from fraud? Out of 1 O Audit procedures that are effective for detecting unintentional misstatements may be ineffective for an intentional misstatement that is concealed through collusion. O An audit is designed to provide reasonable assurance of detecting material errors, but there is no similar responsibility concerning fraud. O The factors considered in assessing control risk indicated an increased risk of intentional misstatements, but only a low risk of unintentional misstatements. The auditor did not consider factors influencing audit risk for account balances that have effects pervasive to the financial statements taken as a whole