An internal auditor performed a risk assessment and concluded that the controls over access privileges to a bank account were appropriate. Later, the auditor learned that a contractor was using a shared password provided by an authorized user of the account. Which of the following statements best describes the auditor's application of due professional care?

Question

AN KANGWOOK · Accepted Answer

Due professional care was not exercised because the residual risk from the possibility of authorized users sharing their passwords was not considered.

AN KANGWOOK · Answer

Due professional care was exercised, despite the auditor's failure to identify the significant risk.

AN KANGWOOK · Answer

Due professional care was not exercised because the auditor failed to identify all the significant risks during the risk assessment.

AN KANGWOOK · Answer

Due professional care was not exercised because the auditor failed to conduct interviews to obtain testimonial evidence of possible password sharing

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