The sample size for a test of a transaction class should be based on the auditor's consideration of 

1. Tolerable rate 

2. Risk of assessing control risk too low 

3. Expected rate 

Required: 

For each of the considerations listed-

a. Define the concept or term.

b. Identify whether the auditor's quantification of the consideration in a specific circumstance to determine sample size is based primarily on professional judgment, professional standards, or past experience with the client.