Millie Buenavista Made the Following Two Statements Concerning Inherent Risk

question 54

Multiple Choice

Millie Buenavista made the following two statements concerning inherent risk: (i) Inherent risk is the risk that an auditor expresses an inappropriate audit opinion when the financial statements are materially misstated.
(ii) Inherent risk deals with the susceptibility of the financial statements to material misstatements without considering internal controls.

• A) Both statements are correct.
• B) Neither statement is correct.
• C) Only statement (i) is correct.
• D) Only statement (ii) is correct.

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Definitions:

Older Adult Abuse

Refers to the mistreatment or harm of older adults, often manifesting as physical, emotional, sexual, or financial abuse.

Proof

In scientific research, proof refers to evidence or argument establishing a fact or the truth of a statement.

Screening for Abuse

the process of identifying individuals at risk of or currently experiencing physical, emotional, sexual, or other types of abuse.

Physical Abuse

Harm or injury inflicted on a person's body by another person, often resulting in trauma or physical pain.