The auditor typically does not assess control risk and inherent risk for:
A) the overall audit.
B) each cycle.
C) each account.
D) each audit objective.

Question

Quizplus · Accepted Answer

The auditor assesses control risk and inherent risk at the level of each account and each audit objective, rather than for the overall audit. This allows for a more detailed and specific risk assessment, which can then inform the nature, timing, and extent of audit procedures.

The Auditor Typically Does Not Assess Control Risk and Inherent