A PA is working on the audit of a publicly held corporation. At what level will the auditor likely set audit risk?
A) low
B) medium
C) high
D) very high

Question

Quizplus · Accepted Answer

Auditors typically set audit risk at a low level for publicly held corporations to ensure that the financial statements are free of material misstatement, as these companies have a wide range of stakeholders relying on their accuracy.

A PA Is Working on the Audit of a Publicly