After Evaluating Inherent Risk and Control Risk, the Auditor ________

question 31

Multiple Choice

After evaluating inherent risk and control risk, the auditor ________.

• A)is in a position to begin the audit work
• B)can conclude the audit and issue an audit opinion
• C)should confirm with management to ensure the auditors findings are agreed with
• D)is in a position to evaluate fraud risk

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Definitions:

Injurious Reliance

Refers to a situation where a party suffers harm or loss as a result of relying on false or misleading statements or promises made by another party.

Legal Right

A legal right is an entitlement derived from legal principles or law, granting the holder a legally enforceable claim to act or require others to act in a certain way.

Green Beans

A type of common bean, eaten around the world, and harvested while the beans are still in their pod before they have fully matured.

Past Work

Previous employment experiences or completed assignments, often reviewed to evaluate skills, performance, or suitability for new tasks.