In assessing sampling risk,the risk of incorrect rejection and the risk of assessing control risk too high relate to the:
A)Efficiency of the audit.
B)Effectiveness of the audit.
C)Selection of the sample.
D)Audit quality controls.

Question

Quizplus · Accepted Answer

The risk of incorrect rejection and the risk of assessing control risk too high both relate to the efficiency of the audit. These risks imply that the auditor might spend more time or resources than necessary due to incorrect conclusions drawn from the sample, thus affecting the audit's efficiency rather than its effectiveness.

In Assessing Sampling Risk,the Risk of Incorrect Rejection and the Risk