Incorrect acceptance

Incorrect acceptance

One of the types of sampling risk that must be considered by auditors when choosing a sample size for a control audit. Incorrect acceptance means that the auditor may mistakenly judge a particular type of mistake as unlikely to happen, when it may be likely to happen, due to choosing too small a sample size for the audit.

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Part of Speech: noun
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Industry/Domain: Accounting
Category: Auditing
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Related terms

incorrect acceptance

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incorrect acceptance

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