Define the audit risk model and explain each term in the model. Begin by defining the audit risk model. (Abbreviation used: PDR- Planned detection risk; AAR risk; IR Inherent risk; CR Control risk.) Acceptable audit A. PDR IR x AAR CR AAR x PDR ?B. IR- AAR PDR IR x CR O D. PDR IR x CR AAR- Next explain each term in the model. (Select the four choices that apply.) ? A. Acceptable audit risk is a measure of how the auditor's willingness to allow that the financial statements may be materially misstated after the audit is completed and an unqualified opinion has been issued. Planned detection risk is a measure of the auditor's assessment of the likelihood that there are material misstatements in a segment before considering the effectiveness of internal control. B. C. Inherent risk is a measure of the auditor's assessment of the likelihood that misstatements exceeding a tolerable amount in a segment will not be prevented or detected by the client's internal controls Acceptable audit risk is a measure of how willing the auditor is to accept that the financial statements may be materially misstated after the audit is completed and an unqualified opinion has been issued D. E. Control risk is a measure of the auditor's assessment of the likelihood that misstatements exceeding a tolerable amount in a segment will not be prevented or detected by the client's internal controls Inherent risk is a measure of the auditor's assessment of the likelihood that there are material misstatements in a segment before considering the effectiveness of internal control Planned detection risk is a measure of the risk that audit evidence for a segment will fail to detect misstatements exceeding a tolerable amount, should such misstatements exist. ? F. G. H. Control risk is a measure of the risk that audit evidence for a segment will fail to detect misstatements exceeding a tolerable amount, should such misstatements exist