Which of the following is least likely to be considered a risk assessment procedure relating to internal control? A)Counting marketable securities at year-end. B)Inquiries of client personnel. C)Inspecting documents and reports. D)Observing the application of specific controls.

Question

Quizplus · Accepted Answer

Counting marketable securities at year-end is not directly related to assessing internal control risks. It is more of a financial statement audit procedure to test the existence and valuation of assets. The other three options are all relevant procedures for assessing internal control risks.

Which of the Following Is Least Likely to Be Considered