The scope of audit of financial statements should be in accordance with: 1. Requirements of legislation and regulations HI. Requirements of relevant professional bodies O a. Both I and Il are not correct O b. Only II is correct OcOnly 1 is correct O d. Both I and II are correct Risk assessment procedures are performed by auditors to: O a express an opinion on the financial statements. b. identify and assess the risks in achieving the entity's objectives. c. distribute the information needed to perform control activities. d. detect material misstatements in the financial statements