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(b) What would you set acceptable audit risk (high, medium-high, medium, low-medium, or low) for the CPCI audit engagement? Explain why. (4 marks) (c) Calculate

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(b) What would you set acceptable audit risk (high, medium-high, medium, low-medium, or low) for the CPCI audit engagement? Explain why. (4 marks) (c) Calculate planning materiality for the CPCI audit. Ensure to include a rationale for the appropriate materiality benchmark (base) and the related appropriate percentage

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