Risk in Auditing Means That the Auditor Accepts Some Level

Risk in auditing means that the auditor accepts some level of uncertainty in performing the audit function. An effective auditor will:

A) set the risk level between 5% and 10%.
B) recognise that risks exist and deal with those risks in an appropriate manner.
C) perform the audit procedures first and quantitatively set the risk level before forming an opinion and writing the report.
D) take any means available to reduce the risk to the lowest possible level.