Explain what is meant by the following statement: “When sampling, the auditors should determine that the physical representation of the actual population is complete.”
Answer to relevant QuestionsIn selecting items for examination, an auditor considered three alternatives: (a) Random number table selection, (b) Systematic selection, and (c) Random number generator selection. Which, if any, of these methods would lead ...Explain how the auditors may obtain an estimate of a population’s standard deviation to determine an appropriate sample size.For each term in the first column below, identify its definition (or partial definition). Each definition may be used once or not at all.Term a. Allowance for sampling riskb. Deviation ratec. Discovery samplingd. Projected ...“When using a systematic sample selection technique with PPS sampling, every account larger than the sampling interval will automatically be included in the sample.” Do you agree? Explain.State one broad general objective of internal control over each of the following: cash receipts, cash disbursements, and cash balances.
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