AUDIT SAMPLING

• 3) When auditors wish to evaluate a sample statistically, an

acceptable selection method is:
• A) systematic sample selection.
• B) judgmental selection.
• C) haphazard selection.
• D) block sample selection.
• Answer: A
• Terms: Sample statistically
• Diff: Easy
• Objective: LO 15-2
• AACSB: Reflective thinking skills
• 4) Which of the following statement is most correct with concerning the
quantification of sampling risk?
• A) Sampling risk cannot be quantified.
• B) Sampling risk can be quantified only when non-probabilistic selection
techniques are used to select the sample.
• C) Sampling risk can be quantified only when probabilistic selection techniques
are used to select the sample.
• D) None of the above.
• Answer: C
• Terms: Quantification of sampling risk
• Diff: Easy
• Objective: LO 15-2
• AACSB: Reflective thinking skills
•  
• 5) The auditor may use which of the following criteria when using
the directed sample selection technique?
• A) Items most likely to contain misstatements.
• B) Items containing selected population characteristics.
• C) Large dollar coverage.
• D) Any of the above.
• Answer: D
• Terms: Criteria with directed sample selection technique
• Diff: Easy
• Objective: LO 15-2
• AACSB: Reflective thinking skills