When planning an audit, the auditor's assessed level of control risk is:
A) determined by using actuarial tables.
B) calculated by using the audit risk model.
C) a judgment issue, based on auditor knowledge.
D) calculated by using the formulas provided in the AICPA's auditing standards.

Question

Quizplus · Accepted Answer

The auditor's assessed level of control risk is a judgment issue based on the auditor's knowledge and understanding of the client's internal controls and the environment in which they operate.

When Planning an Audit, the Auditor's Assessed Level of Control