Assessing Control Risk at a Level Below High Most Likely

question 35

Multiple Choice

Assessing control risk at a level below high most likely would involve:

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

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Definitions:

Communication

The exchange of information, thoughts, or messages between individuals or groups, through various mediums, to achieve understanding or coordinate actions.

Conflict Outcomes

The results or changes that occur as a result of conflict, which can be positive or negative depending on how the conflict is managed.

Conflict Emotions

Feelings that arise during or after a conflict, including anger, frustration, and sadness, which can affect individuals’ perceptions and behaviors.

Manifest Conflict

Visible or openly expressed disagreement or discord among individuals or groups within an organization.