The decisions and actions of an IS auditor are MOST likely to affect which of the following types of risk?

The correct answer focuses on detection risk, which is a critical area in the context of an IS auditor's role. Detection risk refers to the possibility that an auditor will not discover a material misstatement in the financial statements or other areas being audited. This risk can be influenced by the effectiveness of the auditing processes used, including the procedures performed and the auditor's judgment.

An IS auditor's expertise, judgment, and actions during an audit significantly impact the likelihood of detecting potential issues, vulnerabilities, or inaccuracies within the information systems being evaluated. By employing appropriate audit techniques, tools, and methodologies, an auditor can minimize detection risk, thereby enhancing the reliability of their audit conclusions.

Inherent risk pertains to risks that exist naturally in the absence of any control activities, while control risk is associated with the chance that existing controls might fail to prevent or detect errors or irregularities. Business risk refers to the broader category of risks impacting an organization’s ability to achieve its goals, which is not directly influenced by an auditor's specific actions. Detection risk is the most directly related to the operational effectiveness of the auditing process itself and is thus the correct focus when considering the impact of an IS auditor’s decisions and actions.