When planning an audit, the auditor needs to evaluate audit risk where the auditor may unknowingly fail to appropriately modify his or her opinion on financial statements that are materially misstated. Audit risk is composed of

a. Tolerable error risk, sampling error risk, and inherent risk.

b. Tolerable rate risk, sampling rate risk, and inherent risk.

c. Allowance for sampling risk, allowance for non sampling risk, and allowance for inherent risk.

d. Risk of incorrect rejection, risk of incorrect acceptance, risk of overreliance, and risk of under reliance,

e. Inherent risk, control risk, and detection risk.