What Should Auditors Aim for When Working with Audit Risk

question 46

Multiple Choice

What should auditors aim for when working with audit risk?

• A)Reducing audit risk to an acceptably low level
• B)Eliminating audit risk
• C)Increasing audit risk to an acceptably high level
• D)Stabilizing audit risk from year to year in order to eliminate audit procedures

Understand effective delegation as a time management strategy.

Identify the relationship between perfectionism and time management.

Recognize causes of workplace stress related to organizational work design, management, and environment.

Understand effective supervisory responses to subordinate concerns and time management.

---

Definitions:

Top-down Approach

A management strategy where decisions and policies are initiated at the highest level of hierarchy and subsequently communicated down to lower-level employees.

Career Anchors

The fundamental values and goals that guide an individual's career choices and paths.

Psychological Contract

An unwritten agreement between an employer and an employee detailing mutual expectations regarding job responsibilities and benefits.

Four-stage Career Model

This model describes the progression of an individual's career in four stages: exploration, establishment, maintenance, and disengagement.