4. Which of the following is an accurate statement regarding presentation and disclosure? (A) Auditors generally set the risk as low that all required information may not be completely disclosed in the footnotes. (B) Audit tests performed in earlier audit phases provides sufficient appropriate evidence about contingent liabilities and subsequent events. (C) Auditors do not conduct tests of controls related to disclosures when the initial assessment of control risk is below maximum. (D) In completing the audit phase, auditors evaluate whether the overall presentation of the financial statements and related footnotes complies with accounting standards.