Control Risk Is

question 21

Multiple Choice

Control risk is

• A)the susceptibility of management assertions in an accounting business process to a material misstatement assuming no internal controls
• B)the risk that internal controls fail to prevent or detect misstatements in the financial statements
• C)the risk that substantive audit procedures fail to detect misstatements in the financial statements
• D)the risk of assuming a clean opinion when the financial statements are materially incorrect

---

Definitions:

Fifth Amendment

A provision in the U.S. Constitution that guarantees various rights related to legal proceedings, including the right against self-incrimination.

Subpoena

A legal document ordering someone to attend court or produce documents relevant to a legal case.

Records

Documents that preserve information or evidence.

Testimonial Self-incrimination

The act of making statements or providing evidence that directly or indirectly implicates oneself in a criminal activity, protected against by the Fifth Amendment in the United States.