When the Inherent Risk and Control Risk Assessment Is High

question 17

Multiple Choice

When the inherent risk and control risk assessment is high:

• A) there are no controls tested or relied upon.
• B) minimal substantive tests are performed.
• C) the amount of substantive testing is significant.
• D) both a and c

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Definitions:

Dominant Values

The core beliefs and principles that are widely shared and deeply held within a society or organization.

Strong Organizational Culture

A scenario where an organization's values, beliefs, and behaviors are deeply embedded, guiding member's actions and creating a distinct identity.

Conflict Among Employees

Disagreements or disputes between workers within an organization, which can stem from differences in opinions, interests, or personalities.

Organizational Stories

Organizational stories are narratives shared among members of an organization that capture its values, norms, and identity.