Which Two Risks Are Assessed Early in the Planning Stages

question 19

Multiple Choice

Which two risks are assessed early in the planning stages of the audit?

• A) acceptable audit risk and business risk
• B) business risk and inherent risk
• C) acceptable audit risk and inherent risk
• D) none of the above

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Definitions:

Indefinitely

For an unspecified or unlimited duration, without a predetermined end point.

Circumcisions

The surgical removal of the foreskin from the human penis, often performed for medical, cultural, or religious reasons.

Smegma

A substance made up of shed skin cells, skin oils, and moisture that can accumulate under the foreskin in males and around the labia in females.