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Which statement best explains Control risk?

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Question ID #25916 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Auditing Sectional Test 2026 Medium

Which statement best explains Control risk?

Correct Answer: D. Risk that a material misstatement will not be prevented or detected and corrected by internal control
Control risk: Risk that a material misstatement will not be prevented or detected and corrected by internal control

Question: Which statement best explains Control risk?

A. Susceptibility of an assertion to material misstatement before considering related controls

B. Risk that the auditor expresses an inappropriate opinion when financial statements are materially misstated

C. Audit procedures designed to detect material misstatements at the assertion level

D. Risk that a material misstatement will not be prevented or detected and corrected by internal control

Correct Answer: D. Risk that a material misstatement will not be prevented or detected and corrected by internal controlControl risk: Risk that a material misstatement will not be prevented or detected and corrected by internal control

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Which statement best explains Control risk? - MCQ Explanation

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Correct answer: D. Risk that a material misstatement will not be prevented or detected and corrected by internal control