One of your junior staff has prepared some slides for a presentation to a client on the practical procedures involved in auditing.The slides contain the following statements:

i.Materiality is generally defined as being about 5 per cent of gross profit or 10 per cent of net profit.

ii.Audit sampling depends on the level of materiality - the higher the level the less work you need to do.

iii.Audit risk and business risk are more or less the same.

iv.Analytical procedures should only be used as a final procedure at the end of the audit just to check the figures look OK.

v.Auditors need to select samples which represent the population as a whole.

vi.Auditors have to accept/ express unqualified opinion where client's financial statements are in compliance with laws?

Required:

Which of these should you remove from the slides before the presentation is given and why