Nonsampling risk

Nonsampling risk,

Definition of Nonsampling risk:

  1. An aspect of audit risk that results from an incomplete examination of the available data. It is the failure of an auditor to catch a mistake or a misstatement. This may be caused by either misinterpreting the evidence or misapplying procedures that are inappropriate. Opposite of sampling risk.

Meaning of Nonsampling risk & Nonsampling risk Definition