Which of the following statements regarding risk assessment is false?

1)It is not necessary to retain evidence to support risk assessment conclusions. 2)A conclusion that an assertion has a low risk or no risk would require greater documentation and evidence than a significant risk conclusion. 3)Risk assessment is based on facts obtained through several procedures, including walkthroughs, client acceptance procedures, preliminary analytics, and management inquiries. 4)Inherent risk factors identified should be unique to the specific facts and circumstances of each client.