The achieved (actual)level of audit risk
A) Can always be accurately assessed by the auditor.
B) Should be greater than or equal to acceptable audit risk.
C) Can never be known with certainty.
D) Is the same for all audit engagements.

Question

Quizplus · Accepted Answer

The achieved level of audit risk can never be known with certainty, as it is dependent on numerous factors such as the effectiveness of the audit procedures and the reliability of the client's financial reporting system.

The Achieved (Actual)level of Audit Risk