An increase in inherent risk would have the following effects on control risk and acceptable detection risk: No effect on control risk and increase acceptable detection risk. No effect on control risk and decrease acceptable detection risk. Increase control risk and increase acceptable detection risk. Decrease control risk and decrease acceptable detection risk. Which of the following is true regarding the concept of materiality? Materiality judgments are determined solely by reference to the Generally Accepted Auditing Standards (GAAS). Tolerable Misstatement will always exceed Performance Materiality. Performance Materiality will always exceed Overall (planning) Materiality. Materiality judgments are determined via the auditor's expectation of what would matter to a reasonable financial statement user