Complete the definition of control risk using the following words:

1. disclosure
2. risk
3. account balance
4. assertion
5. shown
6. internal control
7. singly
8. financial statement
9. detected
10. material
11. accounting systems
12. individually
-The ________________ that a misstatement that should occur in an ________________about a class of transaction, account balance or ________________ and that could be ________________ either ________________ or when aggregated with other misstatements will not be prevented or ________________ and corrected on a timely basis by the entity's ________________.

Question

Complete the definition of control risk using the following words:
 ​
1. disclosure
2. risk
3. account balance
4. assertion
5. shown
6. internal control
7. singly
8. financial statement
9. detected
10. material
11. accounting systems
12. individually
-The ________________ that a misstatement that should occur in an ________________about a class of transaction, account balance or ________________ and that could be ________________ either ________________ or when aggregated with other misstatements will not be prevented or ________________ and corrected on a timely basis by the entity's ________________.

Quizplus · Accepted Answer

The Answer of Complete the definition of control risk using the following words:
 ​
1. disclosure
2. risk
3. account balance
4. assertion
5. shown
6. internal control
7. singly
8. financial statement
9. detected
10. material
11. accounting systems
12. individually
-The ________________ that a misstatement that should occur in an ________________about a class of transaction, account balance or ________________ and that could be ________________ either ________________ or when aggregated with other misstatements will not be prevented or ________________ and corrected on a timely basis by the entity's ________________.

Complete the Definition of Control Risk Using the Following Words