Revaluation Of Threat

Question 1

Assessing Safeguard
Staying alert importance
Assessing new threats

Answer 1

Here are the smart notes:

Re-Evaluation of Threats

Obligation to Re-Evaluate
If a chartered accountant becomes aware of new information or changes in facts and circumstances, they must re-evaluate and address any threats that may have arisen.

Importance of Staying Alert
Remaining alert throughout a professional activity helps chartered accountants determine if new information or changes in facts and circumstances have impacted the level of a threat.

Assessing Safeguards
Chartered accountants must assess whether new information or changes in facts and circumstances affect the safeguards applied to address identified threats.

Addressing New Threats
If new information identifies a new threat, chartered accountants must evaluate and address it as needed.