In what steps of a sampling plan would the use of non-statistical sampling differ from the use of statistical sampling?
Answer to relevant QuestionsHow should an audit team using non-statistical sampling for attributes testing evaluate the results of the test?Why is the audit team more concerned with controlling the exposure to the risk of overreliance than with the risk of underreliance? a. Only the risk of overreliance results in an incorrect audit decision. b. The risk of ...If an audit team calculated an upper limit rate of deviation of 5 percent when the tolerable rate of deviation was 4 percent, both at the same risk of overreliance, control risk should be a. Assessed at the level associated ...Which of the following factors used to determine sample size is normally based on the extent to which the audit team expects to rely on the internal control being examined? a. Allowance for sampling risk. b. Expected ...Cameron Jones, CPA, is verifying that all sales made by Hicks Company to customers on account are properly approved by credit personnel. Hicks has established the following control related to this objective: On receipt of a ...
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