An advantage of statistical sampling over non statistical sampling is that statistical sampling helps an auditor to

Question:

a. Minimize the failure to detect errors and fraud.

b. Eliminate the risk of non sampling errors.

c. Reduce the level of audit risk and materiality to a relatively low amount.

d. Measure the sufficiency of the evidential matter obtained.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

See More Books

Question Posted: May 08, 2024 01:31 AM

See More Questions

Multiple Choice 1. An advantage of statistical sampling over non-statistical sampling is that statistical sampling helps an auditor to a. Eliminate the risk of non-sampling errors. b. Reduce audit...
An advantage of statistical sampling over nonstatistical sampling is that statistical sampling helps an auditor to a. Eliminate the risk of nonsampling errors. b. Reduce audit risk and materiality to...
Multiple Choice Questions The following questions concern sampling for attributes. Choose the best response. a. An advantage of statistical sampling over nonstatistical sampling is that statistical...
Define change management and its significance in organizations. Discuss the challenges faced during the process of organizational change and strategies to overcome resistance.
Redo Example 5.52 using the weighted inner product (v, w) = v1w1 + 2v2w2 + 3v3w3 + 4v4 w4 instead of the dot product.
Two PAs are discussing review engagements. A: As I see it, in a review we are providing a lower level of assurance, so we dont need the same extent of knowledge of the clients business and industry...
Record the following petty cash transactions of Xeno, Corp., in the journal; expla nations are not required. Jun 1 Established a petty cash fund with a $200 balance. 30 The petty cash fund had $22 in...
Solve for the Stackelberg subgame-perfect Nash equilibrium for the following game tree. What is the joint-profit maximizing outcome? Why is that not the outcome of this game? Leader Sets Output...
The following is the income statement for Sommer Ltd at 31 December 2023. All numbers are expressed in thousands of Euros. Sommer Ltd Income Statement Revenue: Net sales 18,000 Interest revenue 240...
If the achieved allowance for sampling risk of a statistical sample is greater than the planned allowance for sampling risk, this is an indication that the a. Standard deviation was larger than...
In statistical sampling methods used in substantive testing, an auditor most likely would stratify a population into meaningful groups if a. Probability proportional to size sampling is used. b. The...
Testing a Space Radio Transmitter you are a NASA mission specialist on your first flight aboard the space shuttle. Thanks to your extensive training in physics, you have been assigned to evaluate the...
LeAnne is exhausted after another long day of answering the phones at the law firm of Boardman, Holloway, and Shriver. She says those three names several hundred times a day, followed by "How my...
Suppose that instead of wealth, the consumer starts with a bundle of goods z (not necessarily her optimal bundle), and can buy and sell goods at prices p. Suppose that all the goods are regular....
Errors in trial balance Identify the errors in the following trial balance. All accounts have normal balances. Ensemble Co. Unadjusted Trial Balance For the Year Ending December 31, 20Y8 Debit Credit...
Multiply. 4 (x3 + x+x+1)(13x-2)
How can I create a map of Berlin with Rstudio? I would also like to create a linear regression with the NAO values and precipitation values. The precipitation values are monthly. Therefore, all NAO...
Water is to be boiled at sea level in a 30-cm-diameter stainless steel pan placed on top of a 3kW electric burner. If 60 percent of the heat generated by the burner is transferred to the water during...
Parkin Industries, a U.S. company, acquired a wholly-owned subsidiary, located in Italy, at the beginning of the current year, for 200,000. The subsidiary's functional currency is the euro. The...
Selected accounts from the year-to-date financial statements for Nowak Company and its wholly owned subsidiary, Shawinigan Ltd., were as follows: Nowak Cash $ 570 Shawinigan $ 180 $ Consolidated 750...
During the month, Bavarian Auto Co. received $476,500 in cash and paid out $402,150 in cash. a. Does this information indicate that Bavarian Auto Co. had net income of $74,350 during the month? Net...
Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets 16,800 Total Liabilities 9,900 Accounts Payable 2,700 4,500 Debt 3,500 3,800 Other Liabilities 1,000 7,200...

An advantage of statistical sampling over non statistical sampling is that statistical sampling helps an auditor to

Question:

Step by Step Answer:

Auditing An Assertions Approach

Students also viewed these Business questions