QUESTION 4 Alan) is used to make decisions about the extent of audit procedures for a particular class of transaction account balance or declosure qualitative materialty Operformance materiality O quantitative materiality O auditing standardi QUESTIONS nvolves evaluating audit evidence gathered in light of the auditor's understanding of the clent and forming an opinion on the fair presentation of the client's financial statements O The response phase The reporting phase The risk of material misstatement phase O The risk assessment phase