Which of the following is the least reliable evidence for an audit? a. Accounts receivables confirmations received from the CFO, and certified as true by the CFO b. Inventory valuation report received from the warehouse, where the CFO confirms that an external expert has reviewed the report c. A thorough investigation of accounts receivable by a new internal auditor, where the findings are confirmed by the CFO d. Inventory count observed by the auditor, and the client's products include everyday grocer items Which of the following statements best describes the role of materiality in a financial statement audit? a. The higher the level at which the auditor assesses materiality, the greater the amount of work the auditor must undertake b. Materiality refers to the material from which audit evidence is obtained c. The level of materiality has no bearing on the amount of evidence the auditor must gather d. The lower the level at which the auditor assesses materiality, the greater the amount of work the auditor must undergo