The Most Important Reason to Use Risk Assessment in Audit

question 99

Multiple Choice

The most important reason to use risk assessment in audit planning is to:

• A) Identify redundant controls.
• B) Improve budgeting accuracy.
• C) Enhance assurance provided to management.
• D) Assist in developing audit programs.

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Definitions:

Divorced Parents

Parents who have legally ended their marriage and are no longer together.

Authoritative Parenting

A parenting style characterized by high demands but also high responsiveness, combining structure with warmth and support.

Harmonious Relationship

A relationship characterized by compatibility, understanding, and mutual respect between individuals or groups.

Labor Force

The total number of people available to work, including both the employed and the unemployed seeking work.