Manny Regimbald Is Concerned About the Audit of a High

question 53

Multiple Choice

Manny Regimbald is concerned about the audit of a high risk client, the Lewiston Stampeders. He believes that there is a high likelihood that because his audit team is inexperienced that the testing procedures will not detect a material misstatement. This is a(n)

• A) audit risk.
• B) control risk.
• C) detection risk.
• D) none of the above.

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Definitions:

External Threats

External threats refer to dangers that originate outside an individual or system, often impacting psychological well-being or organizational operation.

Genetic Factors

Elements within genes that can influence traits, behaviors, and diseases in individuals.

Siblings

Brothers or sisters; individuals having one or both parents in common.

Social Situations

Encompasses scenarios where individuals interact with one another within a societal context, influencing and being influenced by each other's behaviors and attitudes.