Question: An advantage of statistical over nonstatistical sampling methods in tests of controls is that the statistical methods Provide an objective basis for quantitatively evaluating sample

An advantage of statistical over nonstatistical sampling methods in tests of controls is that the statistical methods

Provide an objective basis for quantitatively evaluating sample risks.

Afford greater assurance than a nonstatistical sample of equal size.

Eliminate the need to use judgment in determining appropriate sample sizes.

Can more easily convert the sample into a dual-purpose test useful for substantive testing

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!