AutoSave . Off H final exam study guide Search Christopher Ritch CR X File Home Insert Design Layout References Mailings Review View Help Share Comments & Cut Calibri (Body) ~ 11 ~ A" A Aa Ap Find AaBbCcDd AaBbCcDd AaBbCc AaBbCct Ad B AaBbCCD AaBbCcDd Gc Replace Paste [ Copy BIU ab X x A LA 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em. Dictate Sensitivity Editor Format Painter Select Clipboard Font Paragraph Styles Editing Voice Sensitivity Editor LO 4-1 Define audit risk and describe how it can be broken down into the three separate components of the audit risk model to help assess and respond to such risks during the audit planning process. LO 4-2 Explain auditors' responsibility for fraud risk assessment and define and explain the differences among several types of fraud and errors that might occur in an organization. LO 4-3 Explain an auditor's responsibility to assess inherent risk, including a description of the type of risk assessment procedures that should be performed when assessing inherent risk on an audit engagement. LO 4-4 Understand the different sources of information and the audit procedures used by auditors when assessing risks, including analytical procedures, brainstorming, and inquiries. LO 4-5 Explain how auditors complete and document the overall assessment of inherent risk. LO 4-6 Explain auditors' responsibilities with respect to a client's failure to comply with laws or regulations. LO 4-7 Describe the content and purpose of an audit strategy memorandum. Page 4 of 8 2269 words DX English (United States) " Focus Lo - + 200% Search for anything N R X R w P ENG 6:00 PM INTL 11/21/2020 727