Untitled Flashcard

Front

This pertains to the possibility that the auditor concludes that controls are less effective than they actually are.

Back

Alpha risk

Front

Involves the application of audit procedures to less than 100% of population

Back

Audit sampling

Front

Applied through calculation of sampling interval.

Back

Systematic

Front

Associated with human type error that will lead to erroneous conclusion

Back

Non sampling risk

Front

Refers to the individual item constituting population

Back

Sampling unit

Front

This refers to the auditors judgment that a material misstatement does not exist when in fact it does.

Back

Risk of incorrect acceptance

Front

Alpha risk and alpha error affects

Back

Efficiency

Front

Risk of assessing risk too low and risk of incorrect acceptance affects

Back

Effectiveness