This is the risk on which the auditor has influence
What is detection risk?
100
This is a risk of business failure.
What is inherent risk?
100
These are the criteria that form the acronym CAATOE.
What are; Completeness, Authorization, Accuracy, Timeliness, Occurrence, Efficiency?
100
The remaining risk net of risk reduction by internal control.
What is residual risk?
100
These are the elements of the fraud triangle.
What is Opportunity, Rationalization, and Incentive?
200
This is the risk of substantive audit procedure failure?
What is audit risk?
200
When the auditor examines all transactions, detection risk is this.
What is low?
200
This is the risk that not all transactions are recorded.
What is completeness?
200
A consolidated list of inhered risk and residual risks segmented by lines of business.
What is a risk registry?
300
This business activity increases all risks?
What is outsourcing?
300
This Act required the CEO of a public company to certify to the securities commissions that internal controls supporting the financial statements are reliable?
What is Sarbanes-Oxley?
300
This is the risk that account balances are not correct.
What is accuracy?
300
This is what the acronym BYOD stands for.
What is Bring Your Own Device?
400
This is a risk magnified by a control deficiency.
What is vulnerability?
400
Management can control inherent risk in these three ways.
What is avoidance, transference, and implementing internal controls.
400
This person is responsible for coordination of assessments, credit risks, IT risks and operational risk.
What is the Chief Risk Officer?
400
This is a variable of risk that can be affected by the auditor.
What is detection risk?
500
This is a particular risk without the probability of quantification.
What is a threat?
500
This chart can be used to help assess inherent risk.
What is the risk matrix?
500
What is one negative effect of technology on inherent risk.
What is Concentrated Processing or Less Reliable Audit Trail or Human Judgement Bypasses or Data Storage Not visible to Human Eyes?
500
The risk that internal controls will fail to reduce the inherent risk to the extent desired.