Statistical sampling provides a technique for:
A)exactly defining materiality.
B)greatly reducing the amount of substantive testing.
C)eliminating the additional cost of designing and conducting the sampling application.
D)measuring the sufficiency of evidential matter.

Question

Quizplus · Accepted Answer

Statistical sampling allows auditors to measure the sufficiency of evidential matter by selecting a sample that is representative of the entire population. It does not exactly define materiality, nor does it greatly reduce the amount of substantive testing. Additionally, there may be additional costs associated with designing and conducting the sampling application.

Statistical Sampling Provides a Technique For