19. Assume the auditor confirms accounts payable and, based on the misstatements found, concludes the original control risk assessment as low was inappropriate. The auditor: (A) should revise their estimate of the control risk upward. (B) should revise their estimate of the inherent risk upward. (C) should revise their estimate of the acceptable audit risk downward. (D) should revise their estimate of the inherent risk downward.

25. The audit firm issues an audit report for its client. The auditors have no obligation to make further inquiries with respect to the client's audited financial statements unless? (A) a development occurs that may affect the company's long-term viability. (B) final resolution was made on disclosed contingency for which no liability needed to be accrued. (C) new information comes to the auditor's attention concerning an event that occurred prior to the date of the audit report that, if known, would have impacted the audit opinion. (D) a lawsuit, in which the risk of loss was considered remote, was resolved in the company's favor.

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