The Risk of ___________________________________________ (Or Risk of Overreliance)occurs When the Auditor's

question 6

Short Answer

The risk of ___________________________________________ (or risk of overreliance)occurs when the auditor's sample results indicate that the client's internal control is functioning effectively when,in fact,it is not functioning effectively.

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Definitions:

Social Security

A government program that provides financial assistance to people with inadequate or no income, primarily the elderly, disabled, and families with dependent children.

Medicare

A federal health insurance program in the United States for people age 65 and older, and for some younger people with disabilities.

Healthcare

A system, or series of services, aimed at maintaining or improving the health of individuals through prevention, diagnosis, treatment, and rehabilitation.

Federal Government

The national government of the United States, which consists of three branches: legislative, executive, and judicial.