> PowerPoint Presentation X + C O C/Users/Chun/Downloads/Individual%20Assignment%202%20(online)%20(1).pdf * Bookmarks WA Watch Becominc... :0 3114207- G Google Aa Juventus vs AC Mil... # PAD Radar * T- Microsoft Word - PowerPoint Presentation 4/5 Following are six situations that involve the audit risk model as it is used for planning audit evidence requirements in the modit of accounts receivable Risk Audit risk Inherent risk Medium Medium Low Low High Low High High High Medium High Control risk Medium High Low Low Medium High Detection risk Audit evidence Required a Copy the above table to your answer sheet and fill in the highlighted blanks for detection risk and audit evidence using the terms low, medium, or trigh (12 marks) b. Using your knowledge of the relationships among the foregoing factors, state the effect on both detection risk and audit evidence (no effect, increase or decrease) of changing each of the following five factors, while the other three remain constant 1. A decrease in audit risk 2. A decrease in control risk 3. A decrease in detection risk 4. A decrease in inherent risk 5. A decrease in inherent risk and an increase in control risk of the same amount (10 marks) Change in factor (list out the item numbers) Effect on detection risk Effect on audit evidence O #leti ** # B e B - A 5:43 2742020 > PowerPoint Presentation X + C O C/Users/Chun/Downloads/Individual%20Assignment%202%20(online)%20(1).pdf * Bookmarks WA Watch Becominc... :0 3114207- G Google Aa Juventus vs AC Mil... # PAD Radar * T- Microsoft Word - PowerPoint Presentation 4/5 Following are six situations that involve the audit risk model as it is used for planning audit evidence requirements in the modit of accounts receivable Risk Audit risk Inherent risk Medium Medium Low Low High Low High High High Medium High Control risk Medium High Low Low Medium High Detection risk Audit evidence Required a Copy the above table to your answer sheet and fill in the highlighted blanks for detection risk and audit evidence using the terms low, medium, or trigh (12 marks) b. Using your knowledge of the relationships among the foregoing factors, state the effect on both detection risk and audit evidence (no effect, increase or decrease) of changing each of the following five factors, while the other three remain constant 1. A decrease in audit risk 2. A decrease in control risk 3. A decrease in detection risk 4. A decrease in inherent risk 5. A decrease in inherent risk and an increase in control risk of the same amount (10 marks) Change in factor (list out the item numbers) Effect on detection risk Effect on audit evidence O #leti ** # B e B - A 5:43 2742020