A well-designed system of management risk assessment is likely to help management identify the risks:
A) relevant to the preparation of appropriate financial statements.
B) of being over-audited.
C) of ineffective audit procedures.
D) of making a loss for the year.

Question

Quizplus · Accepted Answer

A well-designed system of management risk assessment is likely to help management identify the risks relevant to the preparation of appropriate financial statements. It may not necessarily address the risks of being over-audited, ineffective audit procedures, or making a loss for the year.

A Well-Designed System of Management Risk Assessment Is Likely to Help