When an Auditor Decides There Is Higher Inherent Risk for an Account

question 48

True/False

When an auditor decides there is higher inherent risk for an account, one potential effect is that more audit evidence will be required for that account.

---

Definitions:

Personal Freedom

The rights of individuals to act, speak, or think without hindrance or restraint, except in cases where actions harm others.

Memorial Day Massacre

A violent incident on May 30, 1937, where Chicago police shot and killed ten unarmed demonstrators during a steel strike.

UAW Sit-down Strikes

A form of labor protest used by the United Auto Workers in the 1930s, where workers occupied the workplace to prevent the production process, gaining significant victories for union recognition and better wages.