CAS 31528 Requires the Auditor to Consider Various Factors to Identify

question 24

Essay

CAS 315.28 requires the auditor to consider various factors to identify significant risks.List the factors the auditors are required to consider.

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Definitions:

Fatigue

A feeling of extreme tiredness or exhaustion, often resulting from mental or physical exertion, stress, or lack of sleep.

Panic

A sudden uncontrollable fear or anxiety, often causing wildly unthinking behavior, that can be a symptom of a panic disorder or occur in acute stress situations.

Excitement

A state of heightened emotional arousal, often characterized by increased heart rate, energy, and enthusiasm.

Alarm Reaction

The initial stage of the body's response to stress, activating the sympathetic nervous system and the release of stress hormones.