Risk assessments can vary in format, but generally include: 1. A description of identified risks. 2. Tests of audit controls. 3. A system of rating risks. 4. Sample size identification.

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Risk assessments typically include a description of identified risks and a system of rating those risks. Tests of audit controls and sample size identification are more related to audit procedures rather than risk assessment.

Risk Assessments Can Vary in Format, but Generally Include: 1