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Calculate the Risk of Material Misstatements and Detection Risk (Rounded to the Nearest .01) for the following audit engagements:                                   Audit Risk              Inherent Risk                Control RiskCompany A                 0.05                              0.70                                 0.70    Risk of Material Misstatement     [answer1]            Detection Risk      [answer2]                                          Audit Risk              Inherent Risk                Control RiskCompany B                 0.01                              0.30                                 0.50    Risk of Material Misstatement     [answer3]              Detection Risk      [answer4]      What is a reasonable basis for Company A having a Higher Level of Audit Risk than Company B?    [answer6]   Given the information above, which engagement will require higher Auditor Effort in order to cover their acceptable level of Audit Risk? Company A or Company B?    [answer5]       

TOTAL QUESTION 7: [10]

The mastoid process is located in which of the following?  

QUESTION 10

11.3 Plagiarism is considered dishonest. Do you agree with this statement? Motivate your answer. (2)

QUESTION 6 

Define Inherent Risk. (1 Sentence)

Define an Integrated Audit. (1 – 2 Sentences)

QUESTION 9

Describe a scenario where an auditor would view a misstatement as Quantitatively Immaterial, but Qualitatively Material. (1 – 2 Sentences)