Examlex
The risk of material misstatement is a combination of two client-controlled factors: inherent risk and control risk. What is inherent risk and why is it important?
Give examples of inherent risk factors.
Informational Social Influence
The process of aligning one's thoughts or behaviors with those of a group because of a desire to be correct or to understand the correct way to act in a given situation.
Normative Social Influence
The influence of other people that leads an individual to conform in order to be liked or accepted by them.
Private Acceptance
A genuine inner belief that others are right.
Public Compliance
Outwardly going along with the group but maintaining a private, inner belief that the group is probably wrong.
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