Management assesses risks as a part of designing and operating internal controls to minimize fraud and errors.Auditors assess risks to
A)decide the evidence needed in the audit.
B)fully implement the audit risk model.
C)enable them to assess the completeness of internal controls.
D)make sure that the company will continue to operate over the next year.

Question

Quizplus · Accepted Answer

Auditors need to assess risks to determine the evidence needed in the audit. This ensures that they focus on areas of highest risk and obtain sufficient evidence to support their audit opinion.

Management Assesses Risks as a Part of Designing and Operating