Whenever sampling is used in an audit procedure, uncertainty will be present. The two sources of this uncertainty are:
A) audit risk and detection risk.
B) inherent risk and control risk.
C) sampling risk and non-sampling risk.
D) detection risk and control risk.

Question

Quizplus · Accepted Answer

Sampling risk and non-sampling risk are the two sources of uncertainty when sampling is used in audit procedures. Sampling risk arises from the possibility that the auditor's conclusion might be different if the entire population were subjected to the same audit procedure, rather than just a sample. Non-sampling risk includes all other aspects of audit risk that are not due to sampling, such as human error or the use of inappropriate audit procedures.

Whenever Sampling Is Used in an Audit Procedure, Uncertainty Will