The Risk-Based Approach Is Used to Assess

question 76

Multiple Choice

The risk-based approach is used to assess:

• A)Whether a CPA's scope of services poses an unacceptable risk to Independence
• B)Whether a CPA's relationship with a client would pose an unacceptable risk to Independence
• C)Risk of audit failure
• D)Risk of fraud

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Definitions:

Tone

The attitude or emotional quality conveyed through the choice of words and style in oral or written communication.

Expectations

Assumptions or beliefs about what is likely to happen or what someone should do in the future.

Audience

The group of people who watch, read, or listen to something, especially the ones targeted by a message or presentation.

Visual Aids

Tools that enhance the understanding or retention of information by providing a visual representation, such as charts, diagrams, photos, and videos.