Nancy is the auditor for Chiomsys Pharmaceuticals, a manufacturer of COVID-19 vaccinations. The company has a complex pricing model where the price of the COVID vaccination varies depending on the wealth of the purchasing nation. After evaluating the specific risks and circumstances of Chiomsys, Nancy decides on a combined audit approach. Which of the following statements justifies Nancy's choice of a combined approach? O a. The controls around revenue and accounts receivable are ineffective. O b. Nancy tested a sample of invoices as part of a test of controls and concluded, based on the sample exception rate, that the controls around revenue were ineffective. O C The CFO at Chiomsys informed Nancy that the new billing system has major bugs that have not been fixed. o d. The inherent risk around the accuracy of revenue recorded has increased but the controls are effective. The revenue recognition standards for You & Me Ltd. are complex and involve a number of key judgements and estimates. Which part of the Audit Risk Model does this affect? O a. control risk O b. inherent risk O c. planned detection risk O d. substantive risk When the auditor wishes to report significant deficiencies in the client's internal control system, it will be communicated to the client's audit committee in the O a. internal control letter. O b. reportable conditions letter. Oc audit report. O d. management letter