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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