Explain why the auditor needs to know how to conduct a risk assessment. Question content area bottom Part 1 Why does the auditor need to know how to conduct a risk? assessment? ?(Select all that? apply.) A. For other assurance engagements? (i.e. non-financial? statements), an auditor needs to ignore the risks and errors of fraud when selecting audit procedures in order to remain fully independent. B. To select the type of audit evidence that will need to be accumulated to mitigate the risks of? fraud, error, or misstatement in the? client's financial statements C. To assess the quality and effectiveness of the? client's risk assessment processes D. To assess the likelihood of? fraud, error, or other misstatements in the? client's financial statements