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Below are 4 scenarios that involve the audit risk model: Scenario 1 Scenario 2 Scenario 3 Scenario 4 Audit Risk 5% 5% 3% 3% Inherent

Below are 4 scenarios that involve the audit risk model:

Scenario 1 Scenario 2 Scenario 3 Scenario 4
Audit Risk 5% 5% 3% 3%
Inherent Risk 100% 90% 50% 75%
Control Risk 90% 60% 90% 75%

Which scenario will require the least amount of audit evidence?

Scenario 1

Scenario 2

Scenario 3

Scenario 4

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