When the Audit Risk Is 0

question 84

Multiple Choice

When the audit risk is 0.015,inherent risk is 0.50,control risk is 0.30 ,and analytical procedures risk is 0.50,the risk of incorrect acceptance is

• A) 0.02.
• B) 0.20.
• C) 0.50.
• D) 2.00.

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Definitions:

Work Units

Groups or teams within an organization designated to perform specific tasks or functions.

Organisational Strength

The unique capabilities or advantages that give an organization a competitive edge or help it achieve its objectives.

Purpose

The reason for which something is done or created, or for which something exists; often refers to the sense of resolve or determination with which an individual or group undertakes a task.

Performance Advantage

The superiority that an individual or organization holds over competitors in terms of operational efficiency, effectiveness, and overall performance.