Match the steps in assessing control risk with their details.

1.		This involves all five components of internal controls, which are the client's control environment, risk assessment, information system, control activities, and monitoring of controls.		Understand entity-level controls.Identify what can go wrong (WCGW).Identify relevant controls to test.Understand the flow of documents through the system.
2.		The common steps in any transaction stream are authorization, executing the transaction, recording the transaction, and consideration.		Identify relevant controls to test.Identify what can go wrong (WCGW).Understand entity-level controls.Understand the flow of documents through the system.
3.		This describes where material misstatements due to error or fraud could occur in a flow of transactions or source and preparation of information that affects a relevant financial statement assertion.		Understand the flow of documents through the system.Identify relevant controls to test.Identify what can go wrong (WCGW).Understand entity-level controls.
4.		Once the auditor identifies what can go wrong, the auditor will look for relevant internal controls that will either prevent them or detect and correct them.