Question 17 1 Point Which of the following statements is true? The existing levels of inherent risk, control risk and detection risk can be changed at the discretion of the auditor. * Detection risk is a function of the efficiency of an auditing procedure. Cash is more susceptible to theft than an inventory of coal because it has a greater inherent risk. The risk that material misstatement will not be prevented or detected on a timely basis by internal controls can be reduced to zero by effective control activities