Which of the following statements is correct regarding risk analysis?
A . The extent to which management judgments are required in an area could serve as a risk factor in assisting the auditor in making a comparative risk analysis.
B . The highest risk assessment should always be assigned to the area with the largest potential loss.
C . The highest risk assessment should always be assigned to the area with the highest probability of occurrence.
D . Risk analysis must be reduced to quantitative terms in order to provide meaningful comparisons across an organization.
Answer: A
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