During the planning phase, analytical procedures should focus on Reducing the scope of tests of controls and substantive tests. O Providing assurance that potential material misstatements will be identified. Identifying potential problem areas so that subsequent audit work can be designed to reduce the risk of missing something important. O Assessing the adequacy of the available evidential matter. QUESTION 12 If a control deficiency is identified during the audit and the auditor determines that it is reasonably possible or probable that a misstatement in the financial statements could be significant but not material, the auditor has identified O a material weakness O an insignificant deficiency O a significant deficiency an immaterial weakness QUESTION 13 Which of the following is not a part of management s assessment of the company's internal control environment? O Evaluate the likelihood that failure of a control could result in a misstatement O Determining the locations and business units to include in the evaluation O Determining significant deficiencies and material weaknesses in controls Obtaining the external auditors assessment of the internal control effectiveness