Which of the following factors suggest that control risk should be assessed at a low level?
A)A lack of segregation of duties.
B)A lack of approval for significant transactions.
C)A competent objective internal auditor.
D)Both A and C.

Question

Quizplus · Accepted Answer

The presence of a competent objective internal auditor suggests that there are effective control procedures in place, which reduces the level of control risk. A lack of segregation of duties and a lack of approval for significant transactions both increase the level of control risk.

Which of the Following Factors Suggest That Control Risk Should