Inherent risk and control risk normally vary for different accounts in the same audit, whereas acceptable audit risk is ordinarily held constant for each account in the same audit.

Question

Quizplus · Accepted Answer

Inherent risk and control risk are account-specific and can vary for different accounts in the same audit, while acceptable audit risk is typically set at a constant level for each account in the same audit.

Inherent Risk and Control Risk Normally Vary for Different Accounts