Reference no: EM132698095

Problem 1: Sampling is a method of obtaining information that will permit an estimate of the value or quality of a population by examining only a portion of the population. Which of the following statements is false?

Option 1: Auditors will sample to achieve reasonable assurance.

Option 2: When sampling, auditors will always consider costs vs. benefits.

Option 3: Sampling will never be able to provide absolute assurance.

Option 4: Auditors will always sample to keep overall costs of performing the audit reasonable.

Problem 2: Non-sampling risk arises whenever an auditor

Option 1: does not use sampling.

Option 2: uses an inappropriate audit procedure.

Option 3: examines too many items in a population.

Option 4: does not examine all of the items in population.