Which of the Following Statements Concerning Control Risk Is Correct

question 55

Multiple Choice

Which of the following statements concerning control risk is correct?

• A) Assessing control risk and obtaining an understanding of an entity's internal controls may be performed concurrently.
• B) When control risk is high, an auditor is required to document the basis for that assessment.
• C) Control risk may be assessed sufficiently low to eliminate substantive procedures for significant accounts.
• D) When assessing control risk, an auditor should not consider evidence obtained in prior audits about the operation of control activities.

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Definitions:

Revolutionary Ideology

A system of political beliefs that advocates for radical, often fundamental, change to the existing government or society structure.

Educational Reform

The process of implementing significant changes in educational policies, practices, and structures to improve the effectiveness and equity of schooling.

Judith Sargent Murray

An early American advocate for women's rights and education, who argued for gender equality and wrote extensively on the matter in the late 18th century.

Disfranchised

Disfranchised refers to individuals or groups who have been deprived of the right to vote or other rights normally available to members of a society.