described. No screenshots are needed as citations. Simply type the abbreviation of the standards used, section, and subparagraph. Research Tip: Once clicking the topic you are searching with in, you can press control + F to find key words from the question. The first standard you find may be related to the topic, but not fully address the question. Be sure to keep looking to see if another standard is more applicable. noo General Concepts the ngk of material meititement and detection risk. 2) According to the PCAOB auditing standards, the auditor is required to communicate certain matters to the audit committee of the auditee. One required communication is critical accounting policies. What critical accounting policies are required to be disclosed and what is required to be disclosed about the critical accounting policies? 3) According to the PCAOB auditing standards, what is materiality in the context of an audit? 4) According to the PCAOB auditing standards, what are the three broad types of procedures auditors are required to perform to obtain an understanding of the company's relationships and transactions with its related parties? 5) According to the PCAOB auditing standards when auditors are identifying specific accounts and disclosures and their relevant assertions, what qualitative and quantitative risk factors should be considered to identify the significant accounts, disclosures, and assertions (do not include those additional risk factors for accounting estimates)? The Public Company Auditing Oversight Board (PCAOB) sets the auditing standards for public companies in the United States. Their website is located at peaobus.org. Under the oversight tab is a link to the auditing standards. Click "Auditing Standards" and use the most recent versions to answer the following questions. The standards are sorted by sections according to different topics. You must include your standard cite as well as the answer to the questions. I have answered the first question. 1) According to PCAOB auditing standards what is audit risk? AS 1101.04 defines audit risk as the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated, i.e., the financial statements are not presented fairly in conformity with the applicable financial reporting framework. A full citation includes the following elements: AS stands for Auditing Standard. 1011 is the section for Audit Risk and .04 is the subparagraph. As an example, below is the auditing standard described. No screenshots are needed as citations. Simply type the abbreviation of the standards used, section, and subparagraph. Research Tip: Once clicking the topic you are searching with in, you can press control + F to find key words from the question. The first standard you find may be related to the topic, but not fully address the question. Be sure to keep looking to see if another standard is more applicable. noo Cenerai Concepts the tisk of material mosatatement and ovetection hisk. 2) According to the PCAOB auditing standards, the auditor is required to communicate certain matters to the audit committee of the auditee. One required communication is critical accounting policies. What critical accounting policies are required to be disclosed and what is required to be disclosed about the critical accounting policies? 3) According to the PCAOB auditing standards, what is materiality in the context of an audit