Question: Distinguish between sampling risk and nonsampling risk. How can each be reduced? Choose the correct statements concerning sampling and nonsampling risk. (Select all that apply.)

Distinguish between sampling risk and nonsampling risk. How can each be reduced? Choose the correct statements concerning sampling and nonsampling risk. (Select all that apply.) A. An example of nonsampling risk is the risk that the auditor may perform procedures incorrectly or fail to correctly interpret the audit evidence. B. Sampling risk is the risk that an auditor reaches the wrong conclusion for any reason other than sampling risk. C. An example of sampling risk is the risk that the auditor may perform procedures incorrectly or fail to correctly interpret the audit evidence. D. Sampling risk is an inherent part of sampling because the auditor is not testing the entire population. E. Nonsampling risk is the risk that an auditor reaches the wrong conclusion for any reason other than sampling risk. F. Sampling risk is the risk that the auditor reaches the wrong conclusion because a sample is not representative of the population. G. Nonsampling risk is the risk that the auditor reaches the wrong conclusion because a sample is not representative of the population. H. Nonsampling risk is an inherent part of sampling because the auditor is not testing the entire population. How can each be reduced
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