Which Level of Risk Does the Auditor Normally Assign to the Presentation

question 53

Multiple Choice

Which level of risk does the auditor normally assign to the presentation and disclosure-related assertion of completeness for contingent liabilities and subsequent events?

• A)low risk for inherent risks that required information may not be disclosed in the notes
• B)medium for control risk with respect to identifying relevant events
• C)medium with respect to providing adequate detail for the notes
• D)high risk that all required information may not be disclosed in the notes

---

Definitions:

Organizational Politics

The activities aimed at improving someone's status or position within an organization and involve tactics like networking and alliance formation.

Empowers Team

The act of giving team members the authority, confidence, and resources they need to take initiative and make decisions to drive the team's success.

Socially Responsible

The practice of conducting oneself or an organization in a manner that benefits society at large, often involving ethical and sustainable decision-making.

Organizational Culture

The shared beliefs, values, norms, and practices that shape the social and psychological environment of a business or institution.