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There are several factors the auditor should consider when assessing inherent risk.Discuss four of these factors, and for each factor, explain the factor's effect on the auditor's assessment of inherent risk.
Colleges and Universities
Educational institutions that offer undergraduate, graduate, and professional degrees in a variety of fields and disciplines.
Students
Individuals engaged in the pursuit of learning, typically within an educational institution such as a school or university.
Income Increased
A situation where an individual, household, or entity's earnings or revenue rise, impacting their economic capacity and consumption decisions.
Industries
Broad categories that group businesses and economic activities based on similar production processes, services, or goods produced.
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