• Collecting samples from only one area of a lake could be an example of:
  1. Sampling risk.
  2. Non-sampling risk.
  3. Inherent risk.
  4. Population risk
• Which of the following best describes the auditors responsibility for the Management Discussion and Analysis included in a 10-K filing?
  1. The auditor must disclaim an opinion for information outside of the financial statements.
  2. The auditor should check that the MD&A is consistent with the information in the audited financial statements.
  3. A separate independent auditor must be engaged to perform a review of the MD&A.
  4. The auditor must include an explanatory paragraph describing the MD&A.