Statistical sampling-Advantages, Auditing

Assignment Help:

Statistical sampling – Advantages

a) It is scientific and defensible;

b) It provides a precise mathematical statement about probabilities of being correct;

c) It is efficient as over large samples are not taken;

d) It tends to cause uniform standards among different auditing firms;

e) It can be used by lower grade staff who due to lack of experience may be lacking the necessary judgement needed by the judgement sampling.


Related Discussions:- Statistical sampling-Advantages

Audit procedures on investment, describe how the auditors would determine t...

describe how the auditors would determine that all investments income from shares had been properly recorded in the accounting records

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

Ias 40 investment properties - audit evidence, IAS 40 Investment Properties...

IAS 40 Investment Properties - Audit Evidence Typical audit evidence might include: Physical verification of the situation and location of the investment property and c

Related party transactions, Related Party Transactions Related party t...

Related Party Transactions Related party transactions-a transfer of obligations or resources among related parties, regardless of whereas a price is charged. A party is rel

Seek out transactions with related parties, Seek Out Transactions with Rela...

Seek Out Transactions with Related Parties  Within the course of the audit, the auditor carries out process that may identify the existence of transactions along with related

Auditors independence, Identify and explain FIVE risks to independence aris...

Identify and explain FIVE risks to independence arising in carrying out your audit

Audit procedures, audit procedure for shares or common stock

audit procedure for shares or common stock

Audit points - audit process, Audit points - Audit Process Key audit p...

Audit points - Audit Process Key audit points are as 1. Internal control particularly along with regard to computerisation and internal audit.  2. Provision for doubtful

Simplified retirement plan, Simple Plans - An employer can adopt a simplifi...

Simple Plans - An employer can adopt a simplified retirement plan known as a SIMPLE Plan (Savings incentive match plan for employees) if it has fewer than 100 employees that receiv

Case law about auditing, assume that auditors lost a civil lawsuit for dama...

assume that auditors lost a civil lawsuit for damages and the court found total losses of $5 million. if the auditors were determined to be 30 percent at fault and were the only so

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd