10) Explain the when each type of audit report is issued. (10 marks) 11) Identify the relevant organization which can authorize individual CPAs to practice. (4 mark) 12) Identify the organization that is responsible for inspecting audit firms that 13) Identify two financial statement assertions made by the management and briefly 14) Identify two firm characteristics indicative of high inherent risk and explain why 15) Briefly explain how can reduce audit risk? (8 marks) conduct audits of public companies. (4 mark) explain their meaning. (8 marks) this is likely to be the case? (8 marks)