Statistical sampling - advantages, Auditing

Assignment Help:

Statistical sampling - Advantages

A. It is defensible and scientific;

B. It gives a precise mathematical statement for probabilities of to be correct;

C. It is efficient over large samples are not in use;

D. It tends to source uniform standards among different auditing firms;

E. It can be used through lower grade staff who due to lack of experience may be lacking the necessary judgment required through the judgment sampling.

Related Discussions:- Statistical sampling - advantages

Framework of critical thinking principles, Framework of critical thinking p...

Framework of critical thinking principles (a) Identify the key steps in this framework/ concept. (b) Briefly explain each of the key steps, in your own words. Ans: Thin

Statistical sampling - advantages, Statistical sampling - Advantages A...

Statistical sampling - Advantages A. It is defensible and scientific; B. It gives a precise mathematical statement for probabilities of to be correct; C. It is efficien

Sufficiency of audit evidence, Sufficiency of audit evidence The audit ...

Sufficiency of audit evidence The audit evidence should in total enable the auditor to form an opinion on the financial statements. Sufficiency is a measurement of the quantity

Timing of tests of control, Timing of Tests of Control - AUDITOR should per...

Timing of Tests of Control - AUDITOR should perform tests of controls over a period of time which is adequate to determine whether, as of the date specified in management's report,

Selection of a sample - audit process, Selection of a Sample - Audit Proces...

Selection of a Sample - Audit Process The following accounts must be involved in debtor's circularisation: 1) Large balances since they are large and the moreover you can sub

Audit of specialized entities, audit of insurance entities

audit of insurance entities

IT securties policies, example of it security policies in Hardware

example of it security policies in Hardware

Standard defines development and research, Standard Defines Development and...

Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with

Internal control, Ask question #MA. Evaluate the strengths and weaknesses o...

Ask question #MA. Evaluate the strengths and weaknesses of preview Company''s control environment B. What factors in Preview company''s control environment have led to and facilit

Valuation - detailed audit of stock, Valuation - Detailed Audit of Stock ...

Valuation - Detailed Audit of Stock IAS 2 prescribes such stock be priced at the lower of price and net realizable price, It is up to the auditor to ensure that net realizable

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages