For the items below identify Situation 1 OR Situation 2 is most accurate with the identified statement; only one situation will be appropriate for each question. In both situations assume Inherent risk is at a high level. Situation 1: While obtaining an understanding of internal control, you have determined that it appears to be adequate-not strong, but weak. You choose to test controls in the area-they revel that the system functions as expected. (Hint: CR - Situation 2: While obtaining an understanding of Internal control, you have determined that it appears to be very strong. You choose NOT to test controls in the area. (Hint CR - High) The planned assessed level of control risk is lower for this A. Situation 1 Moderate) situation. B. Situation 2 The planned allowable detection risk is lower for this situation More tests of controls will be performed for this situation. More substantive procedures will be performed for this situation The assessed level of control risk will be lower for this situation, The risk of misstatement will be lower in this situation