According to the International Professional Practices Framework, which of the following would not be considered when performing an initial risk assessment in engagement planning?
According to the International Professional Practices Framework, which of the following would not be considered when performing an initial risk assessment in engagement planning?
When performing an initial risk assessment in engagement planning according to the International Professional Practices Framework, the focus is on understanding the existing risk landscape, including the reliability of management's risk assessments, monitoring and reporting processes, and relevant risks in associated activities. Management's methodology for defining risk criteria, while important for understanding how risks are identified and categorized, does not directly impact the immediate assessment of the current risk environment and, therefore, would not be a primary consideration in the initial risk assessment phase.
Why not A ?
The question seems to clarify that during a preliminary risk assessment, the assessor is interested in the reliability of identified risks and controls, rather than how they were identified.
not a because management's risk assessment may not be reliable and the audit plan may not be properly risk -based but why not b??
why c?