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

The independence between the auditor and the client, Explain the independen...

Explain the independence between the auditor and the client on financial statement audit engagements

Code of ethics for auditor, B. The following situations involve a possible ...

B. The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code ha

Communication with expert, Communication with Expert Whether the audit...

Communication with Expert Whether the auditor intends to utilize the work of an expert then he must communicate along with the expert well in advance to confirm the terms of e

Techniques of obtaining evidence, Techniques of Obtaining Evidence ISA...

Techniques of Obtaining Evidence ISA 500 mentions them as such: Inspection of documents or records, Inspection of tangible assets, Observation, Inq

Auditor-client relationship, describe possible factors in the auditor-clien...

describe possible factors in the auditor-client relationship that can make it more difficult for the auditor to detect fruad

Discontinued operations - audit of accounting estimates, Discontinued Opera...

Discontinued Operations - Audit of Accounting Estimates A discontinued operation is a component of an entity that either has been disposed of or is held for sale. So it might

Judgmental sampling, Judgmental Sampling The Judgement sampling is wher...

Judgmental Sampling The Judgement sampling is where, auditor using his own experience and awareness of the client's business and situations selects the sample to be tested with

Important points about auditor - audit process, Important Points about Audi...

Important Points about Auditor - Audit Process The Points that should be noticed that: i. The auditor must forever date his audit report. This date should be as close as pr

Cost and authorization - detailed audit of stock, Cost and Authorization - ...

Cost and Authorization - Detailed audit of stock Cost A favor of the auditor this is restricted generally to determining the technique adopted through the organization

GOODWILL in group, audit procedures in business combination conserning Good...

audit procedures in business combination conserning Goodwill

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