Audit Risk Assessment At this point in the audit planning. you meet with the senior auditor on the Eagle View engagement, Christine Crawford. She is quite impressed with your interest in planning and has read your earlier memos. She is eager to continue your development of audit judgment and analysis. To that end, she tasks you with writing a memo {P - 16} aSSessing the audit risk of Eagle View and determining the appropriate level of detection risk. RL does not use numerical calculations of audit risk and detection risk. instead. it uses four-point scale (very low, low, moderate, and high} to evaluate the various components of the audit risk model. You will need to determine a planned level of audit risk. assess the risk of material misstatement, and determine the appropriate level of detection risk. Explain the impact of your decisions on the audit planning