The Acceptable Risk of Overreliance

Multiple Choice

The acceptable risk of overreliance

A) is normally assessed at a high level when auditing an accelerated filer public company.
B) and the extent of tests of controls depend on assessed control risk for accelerated filer public companies.
C) and the control risk will be assessed as low for audits where there is extensive reliance on internal controls.
D) does not impact the effectiveness of the audit.