What should auditors aim for when working with audit risk?
A)Reducing audit risk to an acceptably low level
B)Eliminating audit risk
C)Increasing audit risk to an acceptably high level
D)Stabilizing audit risk from year to year in order to eliminate audit procedures

Question

Quizplus · Accepted Answer

Auditors should aim to reduce audit risk to an acceptably low level. While it may not be possible to eliminate all audit risk, auditors should take steps to minimize it to a reasonable level. Increasing audit risk would be counterproductive, and stabilizing audit risk solely for the purpose of eliminating procedures goes against the goal of ensuring accurate financial reporting.

What Should Auditors Aim for When Working with Audit Risk