The Key Inherent Risk Factors an Auditor Must Consider When

question 78

Essay

The key inherent risk factors an auditor must consider when auditing the purchasing process are industry factors. Which two are most important and why?

---

Definitions:

McDonald's Golden Arches

A symbol of McDonald's, recognized worldwide, which can elicit conditioned responses (such as hunger or craving) through its association with fast food.

New Learning

The process of acquiring new knowledge, skills, or behaviors through study, experience, or teaching.

Cognitive Processes

Mental activities involved in acquiring, processing, and storing knowledge, including perception, memory, and reasoning.

Behavior-Reinforcement Beliefs

The belief that positive or negative reinforcement can influence the likelihood of certain behaviors being repeated.