The acceptable audit risk (audit risk/ engagement risk) should keep high or low in the three situations below:

1. A public listed company in stock exchange market that have extensive user of its financial statement
2. A company highly rely on debts as the funding system, that took a loan worth $100 million.
3. Current CEO of the company leave his previous position due to disagreement with previous company's auditor and board member. Additionally the board decide the improve the company performance being given 35% of his remuneration in in form of company's share.