The risk assessment component of internal control involves the: a. Independent outside auditors assessment of residual risk.
Question:
The risk assessment component of internal control involves the:
a. Independent outside auditor’s assessment of residual risk.
b. Internal audit function’s assessment of control deficiencies.
c. Organization’s identification and analysis of the risks that threaten the achievement of its objectives.
d. Organization’s monitoring of financial information for potential material misstatements.
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The correct answer is c Organizations identification and analysis of the risks that threaten the achievement of its objectives Explanation Internal co...View the full answer
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Related Book For 
Internal Auditing Assurance & Advisory Services
ISBN: 9780894139871
4th Edition
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
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