The probability of concluding from a control test sample that the control risk is low,when in fact the risk should be assessed as high,is known as _____.
A)Sampling risk
B)Information risk
C)The risk of assessing the control risk too low
D)Inherent risk

Question

Quizplus · Accepted Answer

The risk of assessing the control risk too low refers to the risk of concluding, based on the results of a control test sample, that the control risk is low when it should be high. This risk is specific to the auditor's assessment of control risk and is separate from sampling risk, information risk, and inherent risk.

The Probability of Concluding from a Control Test Sample That