Which of the following best illustrates the concept of sampling risk?
A)A randomly chosen sample may not be representative of the population as a whole on the characteristic of interest.
B)An auditor may select audit procedures that are not appropriate to achieve the specific objective.
C)An auditor may fail to recognize deviations in the documents examined for the chosen sample.
D)The documents related to the chosen sample may not be available for inspection.

Question

Quizplus · Accepted Answer

Sampling risk refers to the possibility that a sample may not be representative of the population as a whole on the characteristic of interest. The other choices relate to other types of audit risks. B refers to the risk of audit strategy; C refers to the risk of detection; and D refers to the risk of non-sampling error.

Which of the Following Best Illustrates the Concept of Sampling