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Risk assessment procedures (per SA 315) include all EXCEPT:
AConfirmation with external parties
BInquiry of management and others
CAnalytical procedures
DObservation and inspection
Answer & Solution
Correct answer: B. Inquiry of management and others
1. SA 315.6 lists three risk assessment procedures: inquiry, analytical procedures, observation/inspection.
2. Confirmation is a further audit procedure under SA 330, not a risk assessment procedure.
3. Confirmation gathers evidence about identified risks.
_Source: ICAI BoS CA Final Paper 3, Ch 3 "Risk Assessment and Internal Control"_
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