Question: Non-sampling risk: (a) Occurs only if you test every member of the population. (b) Applies only to samples taken for the purposes of control testing.

Non-sampling risk:
(a) Occurs only if you test every member of the population.
(b) Applies only to samples taken for the purposes of control testing.
(c) Is the risk that an auditor arrives at an inappropriate conclusion for a reason unrelated to sampling issues.
(d) Does not occur if an auditor relies on unreliable evidence.

Step by Step Solution

★★★★★

3.51 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

c Is the risk that an ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Auditing Risk Based Approach Questions!

er EM4, Problem 1CP 1 Bookmark Show all steps: ON SK AK Data File needed for this Case Problem: Stefanek.xlsx Stefanek Budget Edmund and Lydia Stefanek of Little Rock, Arkansas, are using Excel to...

This module provided a detailed example of the use of sampling to determine whether individuals could reduce their resting heart rates through an aerobic exercise program. Required: Indicate whether...

The prevalence of a disease among a certain population is .40. That is, there is a 40 percent chance that a person randomly selected from the population will have the disease. An imperfect test that...

Employees at Stuart Consulting Services prepare monthly time sheets allocating their work hours to various client projects. Time sheets are prepared online and sent to the supervisor for approval....

Describing Data Once we have collected data from surveys or experiments, we need to summarize and present the data in a way that will be meaningful to the reader. We will begin with graphical...

\fJournal of Mixed Methods Research http://mmr.sagepub.com Mixed Methods Sampling: A Typology With Examples Charles Teddlie and Fen Yu Journal of Mixed Methods Research 2007; 1; 77 DOI:...

In this assignment, you will prepare a 23 page report that addresses the requirements specified in the case. Fully address each requirement and include at least two current references to scholarly...

Multiple Choice Questions 1. Which of the following is a step in an auditors decision to assess control risk below the maximum? a. Apply analytical procedures to both financial data and nonfinancial...

\fThis is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does...

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

Use the information from BE14-1, but assume the bonds are purchased as an available-for-sale security. Prepare Moonwalkers journal entries for (a) The purchase of the investment, (b) The receipt of...

A mine costing $1000 will produce 1 ounce of gold per year forever at a marginal extraction cost of $250, with production commencing 1 year after the mine opens. Gold volatility is zero. What is the...

How do trade unions affect the economy?

According to Interbrand, these four are the top rising global brands. Identify the social media that is listed on the brands website, and then access the pages. Go to YouTube and locate a TV ad of...

Discuss the usefulness of examining subsequent payments as an evidence-gathering technique. If an auditor was to use this technique, what would they be looking for?

The human resources department at Harold Logistics is responsible for selecting and appointing employees, approving pay rates and promotions, and processing employee terminations. The payroll...

What matters does an auditor communicate at the end of an audit to those charged with governance? Why are these matters important?

You run a construction firm. You have just won a contract to build a government office complex. Building it will require an investment of $10.2 million today and $5.2 million in one year. The...

Fun Land is considering adding a miniature golf course to its facility. The course would cost $51,000, would be depreciated on a straight line basis over its 4-year life, and would have a zero...

Assume that you have recently purchased 120 shares in an investment company. Upon examining the balance sheet, you note that the firm is reporting $300 million in assets, $90 million in liabilities,...