When the Acceptable Level of Detection Risk for an Assertion

question 76

True/False

When the acceptable level of detection risk for an assertion is low, the substantive tests will usually be performed at or near the balance sheet date.

---

Definitions:

Economic Policies

Strategies and decisions by a government or organization regarding the control and management of a country's economy.

Recourse

The legal right to demand compensation or payment from an individual or entity in the case of an unfulfilled obligation or loss.

State-Owned Enterprise

An organization that is owned, controlled, and operated by a government entity.

Political Unrest

A state of disagreement or conflict within a country due to differing opinions on governance, policy, or leadership.