When evaluating the results of substantive audit procedures,auditors run the sampling risk(s)of ________.
A)assessing control risk too high or too low
B)incorrect acceptance and incorrect rejection of the population
C)assessing control risk too low only
D)incorrect acceptance of the population only

Question

Quizplus · Accepted Answer

Sampling risk involves the risk of incorrect acceptance and incorrect rejection of the population. Therefore, option B is the correct choice. Option A is incorrect as it refers to the assessment of control risk, which is not related to sampling risk. Option C is incorrect as it excludes the possibility of assessing control risk too high, which is also a type of sampling risk. Option D is incorrect as it only refers to incorrect acceptance and not incorrect rejection of the population.

When Evaluating the Results of Substantive Audit Procedures,auditors Run the Sampling