Alexandra and Angelika were excited to be performing audit procedures and gathering audit evidence. 1. Alexandra mentioned that she liked to use observation as it was such an inexpensive evidence gathering procedure. 2. Angelica felt that performing analytical procedures had a down side because it was very expensive. oa. Only statement 1 is true b. Only statement 2 is true C. Both statements 1 and 2 are true d. Neither statements 1 or 2 are true Gary West is a sole practitioner. He has conducted the audit of Reggie's Farm for the past 12 years. In the current year, Reggie's Farm expanded by acquiring two other farms, installed a new accounting system, and also started to export to the United States. Gary accepted the audit of Reggie's Farm for the upcoming year even though he has no experience with exports to the U.S. or companies the size of Reggie's Farm. Which element of quality control is compromised for Gary's firm? Position Et Right: 0 cm C After: O pt Wrap Text Alexandra and Angelika were excited to be performing audit procedures and gathering audit evidence. 1. Alexandra mentioned that she liked to use observation as it was such an inexpensive evidence gathering procedure. 2. Angelica felt that performing analytical procedures had a down side because it was very expensive. o a. Only statement 1 is true b. Only statement 2 is true c. Both statements 1 and 2 are true d. Neither statements 1 or 2 are true Gary West is a sole practitioner. He has conducted the audit of Reggie's Farm for the past 12 years. In the current year, Reggie's Farm expanded by acquiring two other farms, installed a new accounting system, and also started to export to the United States. Gary accepted the audit of Reggie's Farm for the upcoming year even though he has no experience with exports to the U.S. or companies the size of Reggie's Farm. Which element of quality control is compromised for Gary's firm? a independence b. client acceptance or continuance o extent of professional development d. general ethical requirements