Paul, CPA, has participated in the audit of Tordik Cheese Company for five years, first as an assistant accountant and

the last two years as the senior accountant. Paul has never seen an accounting adjustment recommended and believes the inherent risk must be zero.

Hill, CPA, has just $($November $30)$ completed an exhaustive study and evaluation of the internal controls of Edward Foods Inc. $($fiscal year ending December $31).$ Hill believes the control risk must be zero because no material errors could possibly slip through the many error$-$checking procedures and review layers that Edward used.

Fields, CPA, is lazy and does not like audit jobs in Philadelphia. On the audit of Philly Manufacturing Company, Fields decided to use substantive procedures to audit the year$-$end balances very thoroughly to the extent that the risk of failing to detect material errors and irregularities should be $0\mathrm{.}02$ or less. Fields gave no thought to inherent risk and conducted only a very limited review of Philly's internal control system.