Auditors can use statistical audit sampling A. to determine which clients to accept B. to select a sample of items to test C. as a means of testing the system of internal control D. to determine which accounts should not be audited Statistical sampling A. should generally not be used for auditing engagements B. is typically less complicated than non-statistical sampling C. can be used in addition to testing specific items from a population D. can be used instead of testing specific items from a population When the audit population can efficiently be tested using traditional audit tests, the auditor is more likely to use A. audit sampling B. audit data analytics C. substantive procedures D. none of the above is correct AU-C 540 Auditing Accounting Estimates, including Fair Value Accounting Estimates, and Related Disclosures states A. the objective of the auditor is to obtain sufficient appropriate evidence that accounting estimates are reasonable and disclosures are adequate B. the objective of the internal auditor is to obtain sufficient appropriate evidence that accounting estimates are reasonable and disclosures are adequate C. the objective of the auditor is to obtain sufficient appropriate evidence that accounting estimates are reasonable only D. the objective of the auditor is to obtain sufficient appropriate evidence that disclosures are adequate only Financial statements include A. a variety of items that cannot be measured precisely and must be estimated by client management B. a variety of items that can be measured precisely and must be estimated by client management C. a variety of items that cannot be measured precisely and must be estimated by the internal auditors D. a variety of items that can be measured precisely and should not be estimated by client management