54. Define and explain the importance of audit risk (This should include the 3 risks used to determine the audit risk formula)

56. This may include fictitious and real transactions processes together without the knowledge of the client's operating personnel

	A.	Integrated test facility
	B.	Auditing around the computer
	C.	Limit test
	D.	Test data
	E.	Parallel simulation

60.Auditors auditing non-public companies must communicate internal control "significant deficiencies" to:

	A.	The SEC.
	B.	The audit committee.
	C.	The Federal Trade Commission
	D.	The board of directors
	E.	The shareholders.