A Strategic and Risk-Based Audit Approach Means That the Client

question 25

Multiple Choice

A strategic and risk-based audit approach means that the client must be assessed in the context of the business environment,including which of the following?

• A)ensuring that accounting complies with IFRS or ASPE
• B)completion of an independence threat analysis with supporting documentation
• C)corporate governance process and quality of internal controls
• D)talking to those audit committee members who are also part of management

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Definitions:

Thyroxin

A hormone produced by the thyroid gland that regulates metabolism, growth, and development in the body.

Stressful Situation

A scenario or circumstance that significantly increases levels of stress, anxiety, or tension.

Engage in Denial

The act of refusing to accept reality or facts, thus avoiding a psychologically uncomfortable truth.

Behave Aggressively

This describes actions or behaviors that intend to harm or intimidate others, typically driven by anger or hostility.