... amended,effective for audits of financial statements for periods beginning on or afterDecember 15, 2006, by Statement on Auditing Standards No. 111.] AU 350. 48 Audit Sampling 511 AU Section 350 Audit Sampling (Supersedes ... of sampling is wellestablished in auditing practice..08 The uncertainty inherent in applying audit procedures is referred toas audit risk. Audit risk includes both uncertainties due to sampling ... substantive procedures directed to-ward the same specific audit objective decreases, the auditor's allowable risk AU 350. 16 Audit Sampling 515of incorrect acceptance for the substantive...