Alice Kim, CPA, is considering audit risk at the financial statement level in planning the audit of Nature's Friend Bank's 0NFB) financial statements for December 31, 2019. Audit risk at the financial statement level is influenced by the risks of material misstatement, including fraud risks. For each of the following factors, indicate the effect on risk of material misstatement (RMM) increases RMM decreases RMM no effect Also, is it a fraud risk? yes Fraud risk no Fraud risk no effect You have five choices: Increase RMM and Yes creates a fraud risk -Increase/Yes Increase RMM and No does not create a fraud risk - Increase/No Decrease RMM and Yes creates a fraud risk -Decrease/Yes Decrease RMM and No does not create a fraud risk -Decrease/No No effect * Government regulation and overview of the banking industry is extensive and effective. A Increase Yes B. Decrease/Yes * The banking industry has been significantly impacted by the downturn in the economy in recent years. C Decrease/No D. No effect * NFB's board of directors is controlled by Smith, the majority E. No effect stockholder, who also acts as the chief executive officer. * Interest rates have been very volatile recently. tn saue all answers. * Interest rates have been very volatile recently. * NFB internal audit function reports to the audit committee. Alice Kim's firm has audited NFB for the last four years.