Audit Sampling: Effects on Sample Size

Vocabulary flashcards detailing audit sampling variables, whether they are assessed or accepted, their relation to Attribute or MUS sampling, and their directional effect on sample size.

Expected Deviation Rate

Assess, attribute

Tolerable Deviation Rate

Accept, Attribute

Risk of Overreliance

Accept, Attribute

Expected Misstatement

Assess, MUS

Tolerable Misstatement

Accept, MUS

Risk of Incorrect Acceptance

Accept, MUS

Detection Risk

accept

Control Risk

assess

Inherent Risk

assess

Audit Risk

Accept

Engagement Risk

assess

Business Risk

assess