The conclusion reached as a result of assessing control risk is referred to as the:
A)assurance provided by internal control.
B)determined level of acceptable detection risk.
C)product of the understanding of internal control.
D)assessed level of control risk.

Question

Quizplus · Accepted Answer

The conclusion reached as a result of assessing control risk is referred to as the assessed level of control risk. This is the level of risk that auditors determine that the client's internal controls may not prevent or detect material misstatements in the financial statements.

The Conclusion Reached as a Result of Assessing Control Risk