In the Audit Risk Model, Audit Sampling Applies To

question 61

Multiple Choice

In the audit risk model, audit sampling applies to:

• A) detection risk.
• B) inherent risk and control risk.
• C) control risk and detection risk.
• D) inherent risk and detection risk.
• E) control risk.

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Definitions:

Professional

Pertains to individuals who possess specialized knowledge and skills in a certain field, often requiring formal qualifications.

Work Product

Designed as the material or documents created by someone during the course of their employment or task, particularly those that reflect intellectual effort, creativity, or research.

Securities Law

Laws and regulations governing the issuance, buying, selling, and trading of securities, aimed at protecting investors.

Third Parties

Individuals or entities who are not directly involved in a legal agreement or transaction but may be affected by it or have interests that are impacted.