PROX see PROXIMO.
NONSAMPLING RISK is audit risk not due to sampling. An auditor may apply a procedure to all transactions or balances and fail to detect a material misstatement. Nonsampling risk includes the possibility of selecting audit procedures that are not appropriate to achieve a specific objective. For example, confirming recorded receivables cannot reveal unrecorded receivables. Nonsampling risk can be reduced to a negligible level through adequate planning and supervision.
POINT OF is a positional determinant or modifier in that it is either the starting or ending position, e.g. point of sales, point of delivery, point of collection, or point of completed production.
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