Why do auditors use sampling? In what circumstances would the auditor decide to not use sampling, but
Question:
Why do auditors use sampling? In what circumstances would the auditor decide to not use sampling, but rather test 100 percent of the population?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Auditors use sampling in their procedures for several reasons Efficiency Auditing 100 of a population often referred to as a full population audit can ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 9781119709497
4th Canadian Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren
Question Posted:
Students also viewed these Business questions
-
Required a. Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated...
-
Tia is discussing with Rory and Leigh the risks they identified and how this information will be used in the audit risk model. Tia comments, The audit risk model provides us with a guide for our...
-
To Sketch the root locus, find: i. ii. Then, iii. iv. The starting and ending points of the systems root locus. The breaking in and breaking out points, if any. On the graph sheet, sketch the root...
-
How will you sort 1 PB numbers? 1 PB = 1000 TB.
-
Looking at the Unemployment and Inflation Data This chapter reviewed key concepts relating to unemployment and inflation. In this application, you get a chance to examine U.S. unemployment and...
-
Perform the indicated operations and simplify the given expressions. Each expression is from the indicated technical area of application. (bridge design) wx 2To + kx 4 12To
-
It has been said that results controls should be used wherever they are feasible because, after all, the primary organizational purpose is to generate results. Do you agree or disagree with this...
-
Rent With Us Management Inc. has purchased a large housing complex and must decide where to locate its offices and service facilities. The company has learned that locating each service in a...
-
Calculate the value of ending inventory using the weighted average method for Ford Motor Company. Utilize the following information: Beginning Inventory: $5,000,000 Purchases during the year:...
-
Explain how analytical procedures could be used for substantive testing. Give an example.
-
W&S Partners will need the assistance of auditors in China and the United States and may need derivatives experts to complete the Cloud 9 audit. The other auditors will be asked to provide evidence...
-
A convergent-divergent nozzle has a throat diameter of 0.05 m and an exit diameter of0.1 m. The inlet stagnation state is 500 kPa, 500 K. Find the back pressure that will lead to the maximum possible...
-
What is the maximum number of electrons in aluminum (Al) thatcan have a spin quantum number with a value of m(s)=1/2? Assume aluminum is in its ground state.
-
Crane Manufacturing Co.'s static budget at 14,400 units of production includes $92,160 for direct labor and $20,160 for direct materials. Total fixed costs are $50,400. Determine the total costs on...
-
If you invest $5,000 at the end of every year for ten years at an interest rate of 6%, the balance of your investment in 5 years will be closest to
-
Use below information for Questions 7 to 10: Jane Botosan operates a bed and breakfast hotel in a resort area near Lake Michigan. Depreciation on the hotel is $60,000 per year. Jane employs a...
-
Define and explain environmental sociology.? What is the name of the subdiscipline that studies the social causes and consequences of environmental problems?
-
Voda Link Corp. is a manufacturer of communications components and accessories, with total assets of $10,000,000. Selected financial ratios for Voda Link and the industry averages for firms of...
-
Draw a Feynman diagram for the reaction n + v p + .
-
Required Identify and discuss any professional conduct issues in the following independent scenarios. (a) Adnan is a certified general accountant working for a national firm. He is at his desk when...
-
Required Identify and discuss any professional conduct issues in the following independent scenarios. (a) Adnan is a certified general accountant working for a national firm. He is at his desk when...
-
Ahmad & Partners is a CGA firm in eastern Canada. Last year it audited Chan Corporation, a publicly traded company that manufactures automobile component parts. Although the company has been...
-
Paver Corporation is making a $102,000 investment in equipment with a 5-year life. The company uses the straight-line method of depreciation and has a tax rate of 20 percent. The companys required...
-
A partnership agreement provides that half of the annual profit be distributed in proportion to each partners investment in the partnership, and that the other half be distributed in proportion to...
-
Employee deduction calculation: 6.45% for 2021 Question 2 options: True False
Study smarter with the SolutionInn App