The Audit Risk Model Is Used Primarily

question 71

Multiple Choice

The audit risk model is used primarily:

• A) while doing tests of controls.
• B) for planning purposes in determining how much evidence to accumulate.
• C) to evaluate the evidence that has been gathered.
• D) to determine the type of opinion to express.

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Definitions:

Psychological Measurement

The process of acquiring and quantifying psychological traits, abilities, or outcomes through tests and assessments.

Pragmatic

Relating to a practical point of view or practical considerations, often focusing on the practical or logical approach to problems.

Trial-And-Error

A problem-solving method involving repeated, varied attempts which are continued until success, or until the agent stops trying.

Chronological Age

The actual age of a person measured in years from birth to a given date.