In a risk-based audit approach an IS auditor should FIRST
complete a/an:
A. inherent risk assessment.
B. control risk assessment.
C. test of control assessment.
D. substantive test assessment.
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Answer: A
The first step in a risk-based audit approach is to gather
information about the business and industry so as to
evaluate the inherent risks. After completing the assessment
of the inherent risks the next step would be to complete an
assessment of the internal control structure. The controls
would then be tested and on the basis of the test results,
substantive tests would be carried out and assessed.
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