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Why would be auditor assess control risk

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Reference no: EM132725597

Problem 1. Which of the following is an incorrect statement?

a. Detection risk cannot be changed at the auditor's discretion

b. If individual audit risk remains the same, detection risk bears an inverse relationship to inherent and control risks

c. The greater the inherent and control risk the auditor believes exists, the less detection risk that can be accepted

d. The auditor might make separate or combined assessments of inherent risk and control risk

Problem 2. Why would be auditor assess control risk?

a. Because it indicated where inherent risk may be the greatest

b. Because it determines whether sampling risk is sufficiently low

c. Because it affects the level of detection risk the auditor may accept

d. Because it includes the aspects of nonsampling risk that are controllable

Problem 3. The relationship between acceptable level of detection risk and the combined level of inherent and control risk is

a. Direct

b. Inverse

c. Parallel

d. Independent

Reference no: EM132725597

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