Given below two independent cases regarding risks associated with auditing accounts. For each of the following situations, indicate whether the planned detection risk, and the planned evidence will be high, medium, or low. When planning a financial statement audit, a CPA must understand audit risk and its components. For each of the below statements identify whether it is related to 1- Inherent risk 2- Control risk 3- Detection risk ___ 1- Newly formed institution with high complex transactions ___ 2- No segregation of duties ___ 3- Personnel lacking the necessary technical knowledge to perform their duties. ___ 4- One audit procedure is omitted ___ 5- Company with large network of subsidiaries, associates and foreign branches ___ 6- Lack on internal audit department