In audit sampling for substantive testing, a 10 per cent change in which of the following factors normally will have the least effect on the size of a statistical sample?
A) Population size.
B) Tolerable deviation rate.
C) Expected population deviation rate.
D) Standard deviation.

Question

Quizplus · Accepted Answer

Population size has the least effect on the size of a statistical sample because it is taken into consideration while calculating the sample size using statistical sampling techniques. The sample size is determined based on the acceptable level of risk and the variability of the population, not the size of the population. Therefore, a 10% change in population size is unlikely to have a significant impact on the sample size.

In Audit Sampling for Substantive Testing, a 10 Per Cent