Question: What is the advantage of using statistical methods in sampling
What is the advantage of using statistical methods in sampling and evaluating the results of audit tests?
Answer to relevant QuestionsWhen using statistical methods, why does the auditor set or estimate the tolerable deviation rate and expected population deviation rate?What makes a location or business unit important enough for the auditor to consider it in planning the ICFR audit tests?What types of input validation controls might an auditor test using test data? Explain what the input validation controls do.What are examples of analytical procedures that can be performed using audit software?What is a co-payment?
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