After obtaining an understanding of the entity's internal control and assessing control risk, an auditor of a non-public company decided not to perform additional tests of controls. The auditor most likely concluded that the: Multiple Choice additional evidence to support a further reduction in control risk was not cost beneficial. assessed level of inherent risk exceeded the assessed level of control risk. internal control structure was properly designed and justifiably may be relied on. evidence obtainable through tests of controls would not support an increased level of control risk