Which of the following would not result in exposure to nonsampling risk?a. Measuring the characteristic of interest in an inappropriate manner.b. Selecting items that are not representative of the population of interest.c. Making an unintentional mistake in measuring the characteristic of interest.d. All of the above would result in exposure to nonsampling risk.

How does a control manage a specific risk Select one: 1- if prevents the occurrence of the event b- if reduces either impact or likelihood or both c- if reduces the likelihood of the event given rise to risk d- if reduces the likelihood of the event glving to risk

Which one of the following is the main problem with using non-probability sampling technique? a. The expense b. The results are never representative c. Human judgement error d. Non co-operation of informants

Risk of incorrect rejection is defined as _______.      the risk that the auditor concludes that a material misstatement does not exist when it does exist     the risk that the auditor concludes that a material misstatement exists when it does not exist     the risk that an auditor incorrectly rejects a client     the risk that management may reject the audit opinion issued by the auditor   An advantage of statistical sampling _______.     is that it allows an auditor to measure control risk     is that it allows an auditor to measure sampling risk     is that it allows an auditor to measure inherent risk     is that it is cheaper to perform, resulting in lower audit fees for the client

When is the timing of substantive procedures most flexible? detection risk is assessed as low O there is a lack of an effective control environment O controls have been tested and are determined to be ineffective O controls have been tested and are determined to be effective

Which of the following does not increase the need for sufficient appropriate auditevidence?(1) A lower acceptable level of detection risk(2) An increase in the assessed control risk(3) A lower acceptable audit risk(4) A decrease in the assessed inherent risk

Describe how the nature of evidence used to evaluate the controlenvironment differs from the nature of evidence used to evaluate control activities.

Which of the following is not an advantage of non-statistical sampling? a) It allows an auditor to select a sample that they believe is appropriate. b) It allows an auditor to measure sampling risk. c) It is lower cost than statistical sampling. d) It requires less staff training.

Assuming a lack of internal control in a client's system, the risk of material misstatement is known as? O Inherent risk Client risk O Detection risk O Audit risk

The risks of incorrect acceptance in variables sampling and of overreliance in attributessampling both relate toa. Effectiveness of an audit.b. Efficiency of an audit.c. Control risk assessment decisions.d. Evidence about assertions in financial statements.