Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
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Chapter 8, Problem 9CYBK
To determine

Introduction:Non statistical sampling refers to the method of sampling where the selection of sample is depending upon the judgment of the auditor, instead of a particular sampling method. In this sampling, the size of the sample is also depending upon the judgment.

To state:Whether the given statement is true or false.

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The primary benefit of using nonstatistical sampling is thata. It generally results in a smaller sample size.b. It removes the need to consider allowance for sampling risk.c. It is simpler to use.d. All of the above are true.
An advantage of statistical sampling over nonstatistical sampling methods is that statistical methodsa. Afford more assurance than a nonstatistical sample of equal size.b. Provide an objective basis for quantitatively evaluating sampling risk.c. Can more easily convert the sample into a dual-purpose test useful for substantive procedures.d. Eliminate the need to use judgment in determining appropriate sample sizes
Sampling, rather than surveying an entire population, can offer some substantial benefits. Some of those benefits include O eliminating the risk of error. O saving money and time. O obtaining less variability in the data set.

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Auditing: A Risk Based-Approach (MindTap Course List)

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