A Chief Audit Executive Would Most Likely Use Risk Assessment

question 426

Multiple Choice

A chief audit executive would most likely use risk assessment for audit planning because it provides:

• A) A systematic process for assessing and integrating professional judgment about probable adverse conditions.
• B) A listing of potentially adverse effects on the organization.
• C) A list of auditable activities in the organization.
• D) The probability that an event or action may adversely affect the organization.

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Definitions:

Eating Experience

The eating experience refers to the overall sensation, enjoyment, and satisfaction derived from the act of consuming food, including taste, ambiance, and service.

Caloric Intake

The total number of calories consumed through food and drink in a given period, crucial for managing weight and nutritional health.

Market-product Grid

The market-product grid is a framework used to identify and assess potential markets and products, facilitating strategic decision-making concerning where to focus efforts and resources.

Discretionary Income

The money that remains after paying for taxes and necessities.