Multiple Choice
The ultimate purpose of assessing control risk is to contribute to the auditor's evaluation of the risk that:
A) Tests of controls may fail to identify procedures relevant to assertions.
B) Material misstatements may exist in the financial statements.
C) Specified controls requiring segregation of duties may be circumvented by collusion.
D) Entity policies may be overridden by senior management.
Correct Answer:
Verified
Correct Answer:
Verified
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