Which of the following is least likely to be considered a risk assessment procedure? A. Analytical procedures. B. Inspection of documents. C. Observation of the counting of inventory. D. Observation of the performance of certain accounting procedures.

C. Observation of the counting of inventory.

Explanation:

Risk assessment procedures involve all the steps that represent the evaluation of procedures which are company specific and not individual item specific.

These assessments are done in order to ensure the accounting procedures are fair that are followed by the company.

Thus, the observation of counting of inventory is substantative in nature and not investigating like, risk assessment test.

All other steps mentioned are part of risk assessment procedure.