Auditors who prefer statistical to nonstatistical sampling believe that the principal advantage of statistical sampling flows from its ability to
A) quantify sampling risk.
B) promote a more legally defensible procedural approach.
C) define the precision required to provide audit satisfaction.
D) establish conclusive audit evidence with decreased audit effort.

Question

Quizplus · Accepted Answer

Auditors who prefer statistical sampling believe that the principal advantage of statistical sampling stems from its ability to quantify sampling risk. Statistical sampling allows the auditor to calculate the likelihood that the sample they have selected is not representative of the population as a whole. This ability to measure sampling risk justifies the auditor's opinion on the population based on the sample.

Auditors Who Prefer Statistical to Nonstatistical Sampling Believe That the Principal