Final answer:
The correct option is B). Adequate planning and design of an audit is necessary to restrict Detection Risk, which is the risk that the auditor will not detect a material misstatement in a financial statement.
Step-by-step explanation:
Adequate planning and design of an audit is necessary for an auditor to restrict Detection Risk. Detection risk is the risk that the auditor will not detect a material misstatement that exists in a financial statement. In contrast, Control Risk refers to the risk that the client's internal controls will not prevent or detect a misstatement, and Inherent Risk is the susceptibility of an assertion to a material misstatement, assuming there are no related controls. There is no such term as 'Sufficiency Risk' in the context of auditing. Proper audit planning enables the auditor to identify areas of higher risk and tailor their audit procedures to be more effective in detecting any potential misstatements.