Auditing Practice Questions:

1. T. F. External auditors use some common statistical methods as well as specialized methods peculiar to accounting. 2. T.F. Audit sampling is the process of selecting from a population of accounts that exhibit attributes of the population without examining the entire population. 3. Some specialized auditing tools for external auditors include: a. Stratified sampling b. Monetary Unit sampling c. Data analytics d. All of the above; e. Only b and c above 4. When assessing control risks the auditors concern should be: a. Assessing the control risk too high b. Assessing the control risk too low c. Not obtaining evidence of controls d. All of the above e. Only a and b above