The risk that a material misstatement that could occur in an assertion will not be prevented or detected on a timely basis by the entity's internal controls is:
A) control risk.
B) audit risk.
C) inherent risk.
D) rejection risk.
E) detection risk.

Question

Quizplus · Accepted Answer

Control risk is the risk that a material misstatement that could occur in an assertion will not be prevented or detected on a timely basis by the entity's internal controls.

The Risk That a Material Misstatement That Could Occur in an Assertion