Audit Sampling:

Audit sampling is a technique used by auditors to select a subset of data from a larger population for testing purposes. It is impractical for auditors to examine every transaction or item within a population due to time and cost constraints. Instead, auditors use sampling to obtain sufficient and appropriate audit evidence to support their conclusions about the population as a whole. Audit sampling can be performed using either statistical or non$-$statistical methods, depending on factors such as the nature of the audit engagement, the characteristics of the population, and the auditor's professional judgment.

Objective Type Question:

Which of the following best describes audit sampling?

A$)$ The process of examining every transaction within a population

B$)$ A technique used by auditors to select a subset of data from a larger population for testing purposes

C$)$ The final audit opinion rendered by auditors

D$)$ The detailed testing of transactions conducted by auditors

Choose the correct option that defines audit sampling.