Which of the following would not represent a factor the auditor would consider when assessing the inherent risk associated with a sales transaction? 1. Whether the transaction is a bill and hold transaction. 2. The amount of time budgeted by the auditor for substantive procedures. 3. Use of percentage of completion accounting for the transaction. 4. Whether the transaction involves implementation of new GAAP standards. O 1 O 2 O 3 o o O 4