Question 4 Materiality and audit risk level would affect the auditor's nature of audit procedures. The Malaysian Approved Standards On Auditing No.320: Audit Materiality requires the auditor to consider materiality and its relationship with audit risk when conducting an audit. Required (a) Explain how the auditor's preliminary judgement about materiality would affect the extent of substantive procedure. (8 marks) (b) List and briefly explain with an example each, THREE (3) factors that an auditor should bear in mind when considering the control risk of a company. (12 marks)