Assessing Control Risk at a Lower Level Most Likely Would

question 33

Multiple Choice

Assessing control risk at a lower level most likely would involve:

• A)changing the timing of substantive procedures by omitting interim testing and performing the tests at year-end.
• B)identifying specific internal controls relevant to specific assertions.
• C)performing more extensive substantive procedures with larger sample sizes than originally planned.
• D)reducing inherent risk for most of the assertions relevant to significant account balances.

---

Definitions:

Criminal Penalties

Sanctions imposed by a court for violations of criminal laws, which can include fines, imprisonment, or other forms of punishment.

Retaliation

The act of taking adverse action against someone as a response to a complaint or misconduct reporting, particularly in the workplace.

Defamation

A false statement made by one person about another, which harms the reputation of the person the statement is about.

Civil Action

A lawsuit brought to enforce, redress, or protect private rights, as opposed to criminal proceedings.