When Dealing with Audit Risk

question 59

Multiple Choice

When dealing with audit risk,

• A) auditors cannot accept any level of risk in performing the audit function.
• B) most risks that auditors encounter are relatively easy to measure.
• C) the audit risk model is only used for classes of transactions.
• D) the audit risk model helps the auditor to decide how much and what types of evidence to accumulate.

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Definitions:

Jumps

A programming instruction that skips the execution of a sequence of code to another point in the program.

MCR Instruction

A Master Control Reset instruction used in programming to define the start and end of a block of program instructions that can be conditionally skipped.

Separate File

An individual or distinct file that stands alone or is used or stored separately from others, often implying that it has a specific or unique purpose.