If the auditor is concerned about the risk of fraud in the purchasing process, which of the following best describes the auditor’s potential fraud risk assessments?

a. Fraudulent financial reporting–high risk; misappropriation of assets–high risk.

b. Fraudulent financial reporting–high risk; misappropriation of assets–low risk.

c. Fraudulent financial reporting–low risk; misappropriation of assets–high risk.

d. Fraudulent financial reporting–low risk; misappropriation of assets–low risk.