Distinguish Between Inherent Risk and Control Risk

question 70

Essay

Distinguish between inherent risk and control risk.How do internal controls and detection risk fit in?

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Definitions:

High Risk

A situation or condition that has a significantly increased likelihood of a negative outcome or danger.

Suppress His Feelings

Refers to the act of intentionally hiding or controlling one's emotional responses or feelings.

Physical Effort

The exertion of physical energy by an individual, often leading to fatigue.

Peptic Ulcer

A sore that develops on the lining of the stomach, small intestine, or esophagus, often caused by inflammation due to H. pylori bacteria or erosion from stomach acids.