All of the Following Are Components of Audit Risk Except

question 99

Multiple Choice

All of the following are components of audit risk except

• A)control risk
• B)legal risk
• C)detection risk
• D)inherent risk

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Definitions:

Financial Burdens

The strain or stress placed on an individual's or entity's finances due to debts, obligations, or other financial commitments.

Downsizing

The reduction of an organization's workforce to improve its efficiency or reduce costs.

Workforce Reduction Programs

Initiatives taken by organizations to decrease the number of employees through methods such as layoffs, buyouts, or retirements to reduce costs and improve efficiency.

Cutting Costs

The process of reducing expenses in order to improve a company's financial performance or maintain its competitiveness.