Describes the audit risk model and its various components. Please select a financial statement account in your industry, or an industry you've worked on in the past, and describe the account in terms of the various risks of the model. Assess its inherent risk, control risk, and resulting detection risk as low, medium, or high based on your understanding of and experience with the account, and explain your rationale for each assessment. There are not necessarily right or wrong answers, as long as you are sure to explain your judgment about each assessed risk for the account in an appropriate auditing context.