Saved Hel Which of the following represents an inherent risk for a financial institution? Multiple Choice - Bank reconciliations are not performed on a timely basis. The economy goes into a recession Customer credit check not performed. An error occurs in a loan loss calculation. Which of the following represents a control risk for a retail business? Multiple Choice Bank reconciliations are not performed on a timely basis. Two employees are colluding to facilitate theft. There are many competitors in the region. A bank reconciliation is not performed correctly. Which of the following represents a residual risk for a services company? Multiple Choice Two employees are colluding to focilitate theft All checks require two signatures Bank accounts are reconciled weekly A manager reviews all account reconciliations According to AS 5, control risk should be assessed in terms of Multiple Choice Specific controls Types of potential fraud Financial statement assertions. Control environment factors