The continuous assessment by management to assess the potential for fraud and other risks is referred to as: Multiple Choice the control environment information and communication. monitoring activities. risk assessment Solution Risk Assessment The continous assessment by management to assess the potential for fraud and other risks are referred to as Fraud risk Assessment. It is the determination of quantitaive or qualitative estimate of risk which relates to well defined situation and a recognized threat. Management should assess as the fraud risk can come both from external as well internal sources. Risks and frauds that are present before the management action are described as inherent risk. The main objective of risk assessment is to help a company identify what makes it vulnerable to fraud..

1. The continuous assessment by management to assess the potential for fraud and other risks is
referred to as: Multiple Choice the control environment information and communication.
monitoring activities. risk assessment
Solution
Risk Assessment
The continous assessment by management to assess the potential for fraud and other risks are
referred to as Fraud risk Assessment. It is the determination of quantitaive or qualitative estimate
of risk which relates to well defined situation and a recognized threat. Management should assess
as the fraud risk can come both from external as well internal sources. Risks and frauds that are
present before the management action are described as inherent risk. The main objective of risk
assessment is to help a company identify what makes it vulnerable to fraud.