The audit task of control risk assessment involves learning what the company does to prevent,detect,and correct errors and fraud.

Question

Quizplus · Accepted Answer

The statement is correct. The audit task of control risk assessment involves evaluating the effectiveness of the company's internal control system in preventing, detecting, and correcting errors and fraud. This includes understanding the company's policies and procedures, assessing the design and implementation of controls, and testing the controls' operating effectiveness.

The Audit Task of Control Risk Assessment Involves Learning What