KNOWLEDGE CHECK

ESOPs
Audit risk assessment

ESOPs
Audit risk assessment

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* Which of the following is NOT usually considered a risk of material misstatement at the assertion level for a class of transactions, account balances and disclosures for an ESOP?

The valuation of investments, particularly those with unobservable inputs.

The accuracy and completeness of the census data used by the actuary in determining benefit obligations.

The accuracy and collectability of the employer's contribution to the plan on behalf of all eligible employees.

The accuracy and completeness of participant data.

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