Mini completed all pre-engagement risk management procedures (SAN, CAF, EAF) except executing the contract, for a high risk client. She commenced the work on the engagement without the signed EL after obtaining approval from the FRP. The EL was signed after 23 days and the work was carried out as usual. Was the risk formality in place in the given situation? Yes, because only FRP's approval was required and Mini ensured that the approval was in place No, because RMP's approval was required instead of FRP's approval No, because approvals from both FRP and RMP should have been obtained before commencing the work No, because FRP's approval was to be taken before commencement of the engagement and if EL was not executed within 21 days, RMP's approval should have been obtained No, because FRP's and RMP's approval should have been obtained after the completion of 21 days from the date of commencement of work on the engagement