The choice of using audit sampling _______.
A)is a matter of determining which audit procedure will be most effective, and efficient in the circumstances
B)is a matter of determining which audit procedure will be most cost effective, and efficient in the circumstances
C)should be left to the internal auditors
D)should be confirmed with senior management, before any procedures are undertaken

Question

Quizplus · Accepted Answer

The choice of using audit sampling is primarily driven by the effectiveness and efficiency of the procedure for the circumstances, taking into consideration factors such as the risk profile of the audit, the population size, and the desired level of confidence. Cost considerations may also play a role, but should not be the primary determining factor. Internal auditors may be involved in making the decision, but ultimately it is the responsibility of the external auditor. Senior management should be informed of the audit approach, but do not necessarily need to confirm specific procedures.

The Choice of Using Audit Sampling _______