Identify how an increase in each of the following factors (assuming the other factors remain unchanged) will affect planned audit evidence Audit risk Inherent risk Control risk Detection risk Explain how auditors determine planning materiality and performance materiality What happens if performance materiality is set too high or, alternatively, too low

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Identify how an increase in each of the following factors (assuming the other factors remain unchanged) will affect planned audit evidence. Audit risk Inherent risk

Identify how an increase in each of the following factors (assuming the other factors remain unchanged) will affect planned audit evidence.

Audit risk

Inherent risk

Control risk

Detection risk

Explain how auditors determine planning materiality and performance materiality. What happens if performance materiality is set too high or, alternatively, too low.

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