Which of the Following Is Not True with Respect to the Risk

question 103

Multiple Choice

Which of the following is not true with respect to the risk of incorrect acceptance?

• A)This risk provides the auditor with an efficiency loss.
• B)This risk results in the auditor making an incorrect conclusion about the client's account balance or class of transactions.
• C)This risk occurs when the sample results suggest that the account balance is fairly stated.
• D)This risk is controlled by the auditor in determining sample size under monetary unit sampling (MUS).

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Definitions:

Broader Influence

The extended effect or impact one has beyond their immediate circle, affecting a larger community, system, or societal norms.

Specific Position

A particular or clearly defined job role within an organization, characterized by unique responsibilities and requirements.

Norms

Established standards of behavior or guidelines that are accepted within a group or society.

Roles

The functions or parts played by individuals in a particular social, professional, or other contexts.