Question $13(0\mathrm{.}5$ points$)$

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$$Mathias Mousseau was at a client's offices and was preparing his work for the following$$day$.$ He was considering the risk that a material misstatement due to significant error or fraud could occur in the client's financial statements. Which stage of the audit was he performing?

Question $13$ options:

risk assessment phase

risk response phase

reporting phase

management response phase

Question $14(0\mathrm{.}5$ points$)$

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Which of the following is an example of information used by auditors in gaining an$$understanding of a client at the entity level?

Question $14$ options:

$$the level of competition in the client's industry

whether the client is an importer or exporter of goods

$$the client's ability to withstand currency fluctuations

$$the level of government support in the client's industry