By Assessing Control Risk as High, an Auditor Has Determined

question 33

Multiple Choice

By assessing control risk as high, an auditor has determined that their client's system of internal controls

• A) is unlikely to be effective in mitigating inherent risks identified.
• B) is very effective at preventing or detecting material misstatements.
• C) is very strong.
• D) will eliminate the possibility of material fraud or error.

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Definitions:

Crisis Behaviors

Actions or reactions exhibited by individuals or groups during high stress or threatening situations, often characterized by heightened emotional responses and/or sudden changes in behavior.

Life-Enriching Behaviors

Actions that contribute positively to one's well-being and overall quality of life.

Practitioner Agreements

Formal or informal understandings or contracts between professionals that outline expectations, ethics, and standards of practice.

Reasonable Effort

This term generally refers to the level of diligence and commitment that is considered fair or appropriate under given circumstances.