Which of the following circumstances would not warrant special risk assessment attention?
A) New client personnel.
B) New product lines.
C) New information systems.
D) New audit firm.

Question

Quizplus · Accepted Answer

Out of the given circumstances, a new audit firm would not warrant special risk assessment attention as the audit firm itself is responsible for conducting its own risk assessment procedures to ensure the integrity of their client's financial statements. However, new client personnel, new product lines, and new information systems are all factors that can increase the risk of material misstatements in the financial statements and therefore require special risk assessment attention.

Which of the Following Circumstances Would Not Warrant Special Risk