Inherent Risk Is

question 27

Multiple Choice

Inherent risk is:

• A)the risk of a misstatement occurring irrespective of any internal controls put in place by management.
• B)assessed as high when there are no internal controls tested or relied upon by the auditor.
• C)assessed as low when there are good internal controls in place.
• D)the risk that the auditor's testing procedures will not detect a material misstatement.

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Definitions:

Human Resource Planning

The process of forecasting an organization's future human resource needs and developing strategies to ensure the right number and type of people are available to meet those needs.

Future Demand

The expected need or desire for products, services, or jobs at some point in the future.

Supply Of Workers

The availability of individuals willing and able to work in a particular job market or industry.

Canadian Occupational Projection System

A research program that predicts future trends in the labor market, including demand for different occupations in Canada.