In a financial statement audit, inherent risk is evaluated to help an auditor assess which of the following?

The susceptibility of a financial statement assertion to a material misstatement assuming there are no related controls.

The risk that the internal control system will not detect a material misstatement of a financial statement assertion.

The risk that the audit procedures implemented will not detect a material misstatement of a financial statement assertion.

The internal audit department's objectivity in reporting a material misstatement of a financial statement assertion it detects to the audit committee