According to the Risk-Based Auditing Approach,when a Control Deficiency Is

question 58

Multiple Choice

According to the risk-based auditing approach,when a control deficiency is identified,the auditor should inquire about

• A) tests of controls.
• B) the feasibility of a systems review.
• C) materiality and inherent risk factors.
• D) compensating controls.

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Definitions:

Representative Power

The formal right conferred by the firm to speak for and to a potentially important group.

Personal Power

Describes an individual's ability to influence or control the circumstances of their own or others' lives.

Formal Hierarchy

A formal hierarchy is an organizational structure where individuals and groups are ranked according to levels of authority, responsibility, and status within the organization.

Zone Of Indifference

A range within which attempts to influence a person will be perceived as legitimate and accepted without critical thought.