For a particular assertion, control risk is the risk that:
A) a material misstatement will occur in the accounting process.
B) controls will not detect a material misstatement that occurs.
C) audit procedures will fail to detect a weak control system.
D) the prescribed control procedures will not be applied uniformly.
E) an immaterial misstatement will occur in the accounting process.

Question

Quizplus · Accepted Answer

Control risk is the risk that a company's internal controls will not prevent or detect a material misstatement in its financial statements.

For a Particular Assertion, Control Risk Is the Risk That