51. In an audit, the purpose of risk assessment is to A. form an ultimate opinion on the financial statements based on management's directives B. assess the combined inherent, control and detection risks to evaluate the likelihood that material misstatements could occur in the financial statements. C. audit the system of internal control only D. ultimately ensure that the internal audit function is performing properly 52. Physic Physical controls are concerned with limiting A. physical access to assets to those authorized to have access B. the informational output of the firm C. investors access to certain records of the firm which should be kept private D. access to accounting information to senior managers only