Why might an auditor choose to test a sample rather than the entire population of an account balance when performing audit testing? Which PCAOB auditing standards justify the lower level of assurance obtained when using sampling rather than testing the entire population? Cite the relevant section of the standard(s). Does the auditor's report provide any indication that the assurance obtained is based on a sample of less than 100% of the population? Explain

Answer rating: 100% (QA)

Auditors often use sampling techniques rather than testing the entire population due to practical co... View the full answer