During a meeting of the audit team assigned to the attestation engagement for Jester Enterprises, the audit manager

running the meeting has been asked to explain how the audit team should consider approaching the risk assessment

phase of the audit of the client's property, plant and equipment accounts. Which of the following responses by the

audit manager would best help the team understand more details about this risk assessment phase?

Risk assessment procedures for the audit of a client's property, plant and equipment accounts are generally

decided on a case$-$by$-$case basis. There's no specific advice I can give you; other than make sure all beginning

and ending balances for the client's fixed asset accounts are accurate.

Risk assessment procedures for the audit of a client's property, plant and equipment accounts are usually

achieved via analytical procedures. For example, you could opt to perform ratio analysis related to fixed

assets to see if any notable results arise that might warrant further investigation.

Risk assessment procedures for auditing a client's property, plant and equipment accounts are set forth by

generally accepted auditing standards. As this is a publicly$-$traded company, you should just plan to follow

those.

None of these answer choices are correct.