One of the Purposes of Developing a Client Risk Profile

question 24

Multiple Choice

One of the purposes of developing a client risk profile is to assist the auditor in

• A)developing the pertinent audit procedures for tests of internal controls.
• B)assessing the client's business risk.
• C)locating related parties that need to be disclosed.
• D)deciding whether fraud or illegal acts have taken place.

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Definitions:

Family and Medical Leave Act

A U.S. law that provides eligible employees with unpaid, job-protected leave for certain family and medical reasons.

Companies

Legally recognized organizations designed to provide goods or services to consumers for profit.

Multi-National Companies

Businesses that operate in multiple countries around the world, beyond their home country.

Family-Friendly Benefits

Work policies or practices that support employees in balancing their work responsibilities with family life, such as flexible working hours, parental leave, and childcare support.