(Objectives 17-1, 17-2, 17-3, 17-4) Define what is meant by sampling risk. Does sampling risk apply to nonstatistical sampling, MUS, attributes sampling, and variables sampling? Explain.
Objective 17-1
Differentiate audit sampling for tests of details of balances and for tests of controls and substantive tests of transactions.
Objective 17-2
Apply nonstatistical sampling to tests of details of balances.
Objective 17-3
Apply monetary unit sampling.
Objective 17-4
Describe variables sampling.
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