PART B (5 points) 1. Attribute Sampling: Audit Sampling for Test of Controls In testing controls, auditors are concerned with two sampling risks. Insert the correct sampling risks into the appropriate boxes in the table below for the Assessed Control Risk and the States of Nature presented below (Chose from the following options: or Correct Conclusion, Risk of Assessing Control Risk too Low, Risk of Assessing Control Risk too High). Actual or True State of Internal Controls Auditors' Assessment of Control Risk Internal Control is Effective Internal Control Not Effective LOW HIGH 2. Substantive Testing - Sampling for substantive procedures: In sampling for Substantive test procedures auditors are concerned with two sampling risks. Insert the correct sampling risks into the appropriate boxes in the table below based on the true states of nature (Choose from Correct decision, Risk of Incorrect Acceptance (RIA) of account balance, or Risk of Incorrect Rejection). Sample Testing Procedure for Account Balances Indicate: Actual Status of Population of Account Balances Or True State of Nature in the Population Account Bal. Not Materially Account Bal. is Materially Misstated Misstated Book Value or Account does not contain Material Misstatement Book value or account balance contains Material Misstatement