When the Auditor Identifies Internal Control Strengths, ________

question 10

Multiple Choice

When the auditor identifies internal control strengths, ________.

• A)inherent risk is increased
• B)control risk is unaffected
• C)control risk is decreased
• D)there is no relationship between strength of internal control and inherent risk

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Definitions:

Difficulty of Discovering

Refers to the challenges inherent in uncovering or identifying certain facts or truths, often used in legal contexts regarding the complexity of uncovering evidence.

Acceptance of Goods

The act by which a buyer indicates their agreement that the goods received from the seller conform to the contract specifications.

Reasonable Opportunity

A legal concept giving individuals or parties sufficient time and access to information necessary to make informed decisions or respond to legal processes.

Repudiated the Contract

The act of refusing to perform the duties or obligations set forth in a contract.