Detection Risk II. Audit A involves a large SEC client which is very important to the audit partner: Audit B involves a smail retaii story which is less important to the audit partner. The audit partne Risk? r will set which audit with a higher level of Audit Audit III. Classify each of the following items as related to: a. audit risk; b. control risk; c. inherent risk; or d. detection risk. 1 An inexperienced staff auditor misses a material 2. The account balance is based on a large numbe rf 3. To foster a sense of responsibility, company policy is not 4. The company has few procedures to safeguard its assets misstatement of an account subjective estimates to check the work of the accounting staff and its accounting records