Identify which procedures are performed to assess control risk and which procedures are performed to achieve planned detection risk. help the financial statement auditor assess the likelihood of material misstatement which includes both control risk and inherent risk. The purpose of analytical procedures examining documents, records, and reports making inquiries of appropriate client personnel observing control-related activities reperforming client procedures risk assessment procedures substantive tests of transactions tests of controls tests of details of balances is to obtain evidence regarding the effectiveness of controls in support of an assessment of control risk below maximum. If controls are found to be effective and functioning, the substantive evidence may be increased. reduced. Substantive evidence is obtained to increase reduce detection risk. Substantive evidence includes evidence from