Advantage and disadvantage of judgmental sampling, Auditing

Advantage and Disadvantage of Judgmental Sampling

The advantages of judgment sampling

  1. The approach is understood as well and has been refined through experience over many years;
  2. The auditor is given an opportunity to bring his judgement and expertise to play. Well all auditing in professional judgement is an exercise;
  3. No special knowledge of statistics is utilized;
  4. No time is wasted playing along with mathematics;

Its disadvantages are that:

  1. It is unscientific;
  2. It usually too large samples are selected and It is wasteful;
  3. You cannot extrapolate the conclusion to the population such as a entire as the samples are not representative;
  4. Personal bias in, to choice the sample is unavoidable;
  5. There is no logic to the selection of its size or the sample;
  6. The sample selection is so erratic which is cannot be said to have applied for all items in a year;
  7. So the result reached is usually vague.

Judgment sampling is still the preferred method through the majority of auditors and this is defended on the grounds which the auditor is weighing few pieces of evidence and is investigating few things on the similar time which the whole process is too complex to be reduced to easy formulas.

Posted Date: 1/24/2013 7:49:17 AM | Location : United States







Related Discussions:- Advantage and disadvantage of judgmental sampling, Assignment Help, Ask Question on Advantage and disadvantage of judgmental sampling, Get Answer, Expert's Help, Advantage and disadvantage of judgmental sampling Discussions

Write discussion on Advantage and disadvantage of judgmental sampling
Your posts are moderated
Related Questions
Verification of Liabilities - Audit Process Usually speaking, the auditor's duty along with regard to liabilities can be summarised follows as: 1. To confirm the existence of

Long-Term Liabilities Long-term liabilities are generally evidenced through an agreement called a debenture. For this purpose, long-term loans are often called debentures. The

techniques of vouching


Benefits of Internal Audit are following: It is in-expensive. No charted accounted is needed to audit internally. Faults will be removed before preparing financial stateme

The Need for an Audit If you take an example of a modern large liability company, we can clearly distinguish between the providers of funds and those who control those funds. The

Case Study: Hide-It (HI), a family-owned business based in Tombstone, Arizona builds custom homes with special features, such as hidden rooms and hidden wall safes. Hide-It has

phases of operational auditing report sample or template of companies operational audit report

what is the role of a joint auditor