Which of the following risk factors is an example of an assertion specific inherent risk factor?
A) Management override of internal controls.
B) The impact of technological developments.
C) Inadequate accounting skills.
D) Management turnover.
E) Contentious accounting issues.

Question

Quizplus · Accepted Answer

Contentious accounting issues are an example of an assertion specific inherent risk factor because they directly relate to the financial statements' assertions about transactions or account balances, potentially affecting the accuracy and validity of those assertions.

Which of the Following Risk Factors Is an Example of an Assertion