Acceptable audit risk is ordinarily set by the auditor during planning and
A)held constant for each major cycle and account.
B)held constant for each major cycle but varies by account.
C)varies by each major cycle and by each account.
D)varies by each major cycle but is constant by account.

Question

Quizplus · Accepted Answer

Acceptable audit risk is typically determined by the auditor during the planning phase of an audit and is held constant for each major cycle and account. This approach ensures consistency in the level of risk the auditor is willing to accept across different areas of the audit.

Acceptable Audit Risk Is Ordinarily Set by the Auditor During