During the audit of the privately held Wood Company, the external auditors, Green CPAS, have noted from reviewing minutes of the board of director's meetings that there are very few external directors on the client's audit committee. What might be an appropriate response to this by the auditors? O The auditors are likely to decrease substantive testing, and increase reliance on the internal audit function. O The auditors should consider decreasing inherent risk, and increasing control risk to compensate for this. The auditors should consider the decreased independence of the audit committee when planning audit procedures, and adjust any planned procedures accordingly. O The auditors should consider withdrawing from the engagement, and protecting the reputation of the firm