Which of the following statements is NOT an explanation of why ISA 315 Identifying and assessing the risks of material misstatement through understanding the entity and its environment requires a risk assessment to be carried out at the planning stage? Audit partner can select audit team members with sufficient skill and experience to maximise the chance of those risks being addressed The risk assessment will help the audit team gain an understanding of the entity for audit purposes The risk assessment will form the basis of the audit strategy and the detailed audit plan The risk assessment will enable the audit senior to produce an accurate budget for the audit assignment