Match the following terms (a-h) with the definitions given below (1-8):

A. prejudice about materiality

B. inherent risk

C. risk of planned detection

D. audit assurance

E. acceptable audit risk

F. performance materiality level

G. control risks

H. materiality

 Definitions

1. A measure of the risk that audit evidence on a segment will fail to detect misstatements that exceed performance materiality, if such misstatements exist

2. A measure of the auditor's assessment of the likelihood that misstatements exceeding performance materiality in a segment cannot be prevented or detected by the client's internal controls

3. A measure of the auditor's willingness to take the risk that the financial statements may be materially misrepresented after the 3rd audit has been completed and an unqualified audit opinion has been issued.

4. materiality assigned to any account balance

5. The maximum amount that the auditor believes statements may be misrepresented and still not affect the judgments of reasonable users

6. This term is synonymous with acceptable audit risk.

7. The magnitude of an omission or misstatement in accounting information that makes it possible for a reasonable person to change their judgment

8. A measure of the auditor's assessment of the possibility of material misstatements before evaluating the effectiveness of internal control

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