One of the Purposes of Developing a Client Risk Profile

question 24

Multiple Choice

One of the purposes of developing a client risk profile is to assist the auditor in

• A)developing the pertinent audit procedures for tests of internal controls.
• B)assessing the client's business risk.
• C)locating related parties that need to be disclosed.
• D)deciding whether fraud or illegal acts have taken place.

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Definitions:

Nitrogen Cycle

A biogeochemical cycle describing the transformations of nitrogen and nitrogen-containing compounds in nature.

Slash-And-Burn Agriculture

A method of agriculture where vegetation is cut down and burned as a technique to clear land for cultivation, but can lead to soil degradation and deforestation.

Stratospheric Ozone

A layer of ozone molecules located in the Earth's stratosphere, protecting life by absorbing most of the sun's harmful ultraviolet radiation.

UVB

Ultraviolet B light, a component of sunlight with wavelengths between 280-315 nm, known for its role in vitamin D synthesis and skin tanning.