Auditing Questions

• Statisticalsamplinghelpstheauditordowhatspecific3thingsperthestandard?
• What is an alternative to using sampling in an audit?
• What are the 2 general approaches to Sampling?
• How does sample size relate to sufficiency of audit evidence?
• When sampling is used, what are the two sampling risks associated with substantive tests?
• When sampling is used, what are the two sampling risks associated with tests of controls?
• What is the most important consideration when selecting a sample?
• Briefly explain this statement: all items in the population should have an opportunity to be selected