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

Importance of related party transactions, Importance of Related Party Trans...

Importance of Related Party Transactions Whenever the existence of about transactions and parties among such parties are considered ordinary features of business, the auditor

Companies modes of operation, Companies Modes of Operation Some compani...

Companies Modes of Operation Some companies (especially small ones) operate without any overtly expressed plan and simply carry out the business as always, responding to market

Verification, procedures for verifying a fixed assets

procedures for verifying a fixed assets

Procedures followed in conducting an audit, Procedures followed in Conducti...

Procedures followed in Conducting an Audit Procedures generally followed in conducting an audit by more than one firm of accountants and the division of work between them.

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

Audit evidence, State four factors considered determining sufficiency of a...

State four factors considered determining sufficiency of audit evidence

Valuation - auditing process, Valuation - Auditing Process IAS 16 requ...

Valuation - Auditing Process IAS 16 requires that all assets for use through the business have been valued on the basis of depreciated historic costs along with one exception.

Evaluate the audit risk faced by each department, Problem: You are an a...

Problem: You are an auditor of a company which operates three large departmental stores at Grand Bay, Port Louis and Tamarin. You are preparing your audit plan and you are p

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