AUDITING & ASSURANCE SERVICES CONNECT AC
AUDITING & ASSURANCE SERVICES CONNECT AC
10th Edition
ISBN: 9781259292057
Author: MESSIER
Publisher: MCG
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Chapter 8, Problem 8.1RQ
To determine

Concept Introduction:

Sampling is the method of selecting few items to check from the entire population under examination. Auditors apply sampling method while performing their audit procedures.

Sampling can be statistical or non statistical.

To indicate: the meaning of sampling and reason why auditors use it.

Expert Solution & Answer
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Explanation of Solution

Time is one of the limitations of the audit. Auditors cannot have sufficient time to check each and every business transaction; hence auditors do not examine each and everything while conducting audit procedures. Auditors apply sampling method while performing their audit procedures. Sampling can be statistical or non statistical. Auditor should try best to get a sample which truly represents the attribute of the entire population.

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