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I am seeking help with the following question. Thank you. Statements or examples that relate to audit sampling are listed below. Match the statements 1
I am seeking help with the following question. Thank you.
Statements or examples that relate to audit sampling are listed below. Match the statements 1 through 5 to the term (A through D) that it best describes. It is possible for a letter to be used more than once. A: Statistical sampling 8: Non-statistical sampling C- Sampling risk O: Non-sampling risk 1. Jones CPA selected a sample and evaluated the results of her sample using the laws of probability. 2. Wilson CPA checked to see if there were any signatures in the credit approval box on a sample of sales orders rather than looking only for authorized signatures. 3. Based on a statistical sample, Jackson CPA concluded that the clients control system was working on an acceptable basis when In fact the population deviation rate was unacceptable. 4. For his sample Barnum CPA selected all invoices over $1 ,000 and all invoices recorded on the 15th of each month. 5. When a client could not produce an invoice for a sample selected by the auditor, the auditor accepted the client's assurance that the invoice contained the appropriate approval.
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