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Auditing

Lecture 7 & 8

Audit risk, inherent and control risk, internal controls, substantive procedures, and audit sampling.

Question 38 of 57

Sampling risk is:

Pick one: press 1-4 on your keyboard or click an option.
A

The risk that the auditor's conclusion based on a sample differs from the conclusion if the entire population were tested

B

The risk that evidence comes from internal sources

C

The risk that the auditor forgets to follow up confirmations

D

The risk that management will override internal controls