The auditor performs certain steps during the risk assessment process. Identify the correct statement pertaining to the overall risk assessment process.

a$.$

Materiality has to be determined first before the audit procedures can be planned and the sample sizes determined.

b$.$

During the evaluation of audit evidence, the auditor identifies problems. The next step to be followed by the auditor is to conclude.

c$.$

The very first step in the risk assessment process is to identify the areas of material misstatements.

d$.$

Collecting audit evidence occurs before the areas of material misstatements are identified.