The probability that an auditor's conclusion based on a sample might differ from the auditor's conclusion based on an audit of the entire population identifies the concept of ________.
A)sampling risk
B)confidence levels
C)statistical sampling
D)tolerable rate and the expected deviation rate

Question

Quizplus · Accepted Answer

Sampling risk refers to the possibility of an auditor's conclusion based on a sample differing from the conclusion they would have drawn had they audited the entire population. This concept is closely related to statistical sampling techniques and is an important consideration for auditors when designing and evaluating their audit procedures. Confidence levels and tolerable rates and expected deviation rates are also important concepts in auditing, but they are not directly related to the issue of sampling risk.

The Probability That an Auditor's Conclusion Based on a Sample