For each situation, select the impact, if any, that the situation has on a specific component of audit risk. Selections may be used once, more than once, or not at all. Consider each situation independently. The client delegated the collections of receivables to a bank by using a lockbox system. [ Choose ] The company has recently engaged in hedging activities by the purchase of derivatives. [ Choose ] profitable year. [ Choose Increase inherent risk The company has recently engaged in hedging activities by the purchase of derivatives. Increase control risk Increase detection risk Decrease inherent risk Because of time pressure to complete the audit earlier this year, the audit partner decided that the audit team no longer needed to perform additional tests of detail over payroll and will only perform substantive analytical procedures over payroll this year. No effect on risk Decrease control risk Decrease detection risk [ Choose ] The client is in the process of installing a new computer software system that will not be fully operational until the following year. Some of the financial processes have been transferred to the new system, but others have not