True or False:

1. The Internal Revenue Service audit of a company is an example of an independent audit. ___________

2. The independent auditors report is used to communicate the audit firms opinion about a companys financial statement to management. __________________

3. An independent auditor is responsible for developing financial statements and providing an opinion about their accuracy. __________________

4. Audit risk is affected by client characteristics and the actions of the auditor. _______________

5. When an auditor is not independent, a qualified opinion is required. _________________-