When assessing planned control risk for sales,
A) the key internal controls and deficiencies for sales will be the same for every company.
B) the audit objectives for sales will differ from company to company.
C) a flowchart is required to help assess control risk for sales.
D) assessing control risk for sales is a highly subjective decision.

Question

Quizplus · Accepted Answer

Assessing control risk for sales is a highly subjective decision as it depends on various factors such as the company's internal control environment, the nature of the business, and the industry regulations. Therefore, it requires auditor judgment and evaluation of the specific circumstances of each company.

When Assessing Planned Control Risk for Sales