An Entity's Risk Assessment Process ________

question 36

Multiple Choice

An entity's risk assessment process ________.

• A)should be reevaluated every five years to respond to changing market conditions and threats
• B)should only solicit feedback from and be crafted by top management
• C)is its process for identifying and responding to risks that an organization will not achieve its objectives
• D)is the same as the auditor's consideration of risk

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Definitions:

Row and Column Format

A data arrangement method in matrices or spreadsheets, where information is systematically placed in rows and columns.

Microsoft Excel

A spreadsheet program developed by Microsoft, widely used for calculating, visualizing data, and performing various data analysis tasks.

Spreadsheet Program

A software application that enables users to organize, analyze, and store data in tabular form for various purposes including financial planning and managing information.

Outline

A general description or plan showing the essential features of something but not the detail.