643. For each defi nition (or portion of a defi nition) in the fi rst column, select the term that most closely applies. Each term may be used only once or not at all. LO All Defi nition (or Portion) Term a. A detailed listing of the specifi c audit procedures to be performed in the course of an audit engagement. b. A description of the nature, timing, and extent of the audit procedures to be performed. It is often documented with an audit program. c. An estimate of the time required to perform each step in the audit. d. The purpose of this document is to avoid misunderstandings between the auditors and the client. e. The risk of material misstatement of an assertion about an account without considering internal control. f. At the overall engagement level, this is the risk that the auditors may unknowingly fail to appropriately modify their opinion on fi nancial statements that are materially misstated. g. An identifi ed risk that requires special audit consideration. h. A risk that threatens managements ability to achieve the organizations objectives. 1. Audit plan 2. Audit program 3. Audit risk 4. Representation letter 5. Business risk 6. Control risk 7. Engagement letter 8. Inherent risk 9. Signifi cant risk 10. Survival risk 11. Time budget