Because Control Risk and Inherent Risk Vary from Cycle to Cycle

question 53

Multiple Choice

Because control risk and inherent risk vary from cycle to cycle, account to account, or objective to objective,

• A) audit risk must also change.
• B) planned detection risk and required audit evidence will also vary.
• C) planned detection risk will vary but audit evidence will remain constant.
• D) planned detection risk will remain constant but audit evidence will vary.

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Definitions:

Intervention

An action or process of intervening, usually aimed at producing some kind of change or improvement in a situation.

Diagnosed

The determination of the nature of a disease or condition by examination of symptoms and signs or by other tests.

Real-life Counseling

Counseling services and practices that are delivered in real-world settings, addressing a broad spectrum of client needs and issues.

Information Processing

A cognitive approach that focuses on how people take in, use, and store information.