The Auditing Profession Has Established Guidelines for Setting Inherent Risk

question 90

True/False

The auditing profession has established guidelines for setting inherent risk.

---

Definitions:

New Organization

Refers to a freshly established entity or the process of restructuring an existing one to operate in a novel manner.

Typically Emerges

Refers to how something commonly or usually comes into being or becomes apparent over time.

Cultural Change

The transformation of the collective behaviors, values, practices, and norms of an organization or society over time.

Organization's Culture

The shared values, beliefs, norms, and practices that define a business or institution and shape its work environment and employee behavior.