Martin Shawbridge, a manager at Cox, Durham, & Elliott, CA's was given the mandate to deal with the following risks: fraud risks, complex transactions, significant related party
Transactions. How would you classify these risks?
A) audit risk
B) inherent risk
C) control risk
D) significant risk

Question

Quizplus · Accepted Answer

These risks are classified as significant risks because they involve complexities and potential for material misstatement that require special audit consideration.

Martin Shawbridge, a Manager at Cox, Durham, & Elliott, CA's