The foundation of the audit function

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Which of the following BEST describes why risk assessment can be viewed as the foundation of the audit function:

Risk assessment provides a framework for allocating limited resources to achieve maximum benefits and value derived from the audit process.

Risk assessment enables flexibility in approaching audits.

Risk assessment provides for a measurement criteria to evaluate audit results.

Risk assessment enables an orderly approach to conducting audits.

Reference no: EM131134679

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