Auditors do not need to concern themselves with risks unless there is an indication that there is an internal control weakness.

Question

Quizplus · Accepted Answer

Auditors need to concern themselves with risks regardless of whether there is an indication of an internal control weakness. Risks can arise from various sources, including external and internal factors, and can have a significant impact on the financial statements. Therefore, auditors must assess and address risks as part of their audit procedures.

Auditors Do Not Need to Concern Themselves with Risks Unless