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If inherent risk is considered at the assertion level, why does the nature of the client's business ...

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If inherent risk is considered at the assertion level, why does the nature of the client's business ...

If inherent risk is considered at the assertion level, why does the nature of the client's business affect inherent risk?
A) Certain accounts, such as inventory, are affected by the nature of the client's business.
B) If the client has really basic manufacturing processes, inherent risk is low.
C) When there is a risk of technological obsolescence, a specialist must be used during the engagement.
D) Accounts such as cash, notes and mortgages payable vary depending upon the type of business.

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Auditing: The Art and Science of Assurance Engagements, Canadian Edition

Edition: 12^th

Authors: Arens, Elder, Beasley, Splettstoesser

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Thank you, thank you, thank you!

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