Indicate Whether Each of the Following Characteristics Relates to the Risk

question 14

Short Answer

Indicate whether each of the following characteristics relates to the risk of overreliance (O),risk of underreliance (U),both (B),or neither (N).
_____ 1.Is specifically considered by the auditor in determining sample size and evaluating sample results.
_____ 2.Is characterized by the auditor's sample indicating that the control is functioning effectively.
_____ 3.Results in the auditor drawing an incorrect conclusion with respect to the population being examined.
_____ 4.Is also referred to as the risk of assessing control risk too high.
_____ 5.Results in an effectiveness loss to the auditor.
_____ 6.Is used by the auditor in selecting sample items for examination and measuring sample items.
_____ 7.Is characterized by a population deviation rate of less than the tolerable rate of deviation.
_____ 8.Is an example of a sampling risk to which the auditor is exposed.

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Definitions:

Inequality

The unequal distribution or access to resources, opportunities, rights, and privileges among different groups within a society.

Transnational Company

A transnational company operates on a global scale, owning or controlling production or service facilities in one or more countries other than its home country.

Global Commodity Chain

A global system of manufacturing and distribution channels that a product navigates before being acquired by the end user.

Marketer

A person or company responsible for promoting and selling products or services.