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    Audit

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    Tk Kim
    This document discusses auditing techniques related to audit sampling. It covers topics such as selective testing, audit sampling, attributes sampling, stratified sampling, discovery sampling, and value-weighted sampling. The key points are: 1. Audit sampling involves applying procedures to less than 100% of items to evaluate characteristics of selected items and form an opinion about all items. 2. Auditing sampling is appropriate for substantive tests when tests of details are performed. 3. Auditing sampling for tests of controls is generally appropriate when control leaves evidence of performance. 4. Principal methods of sampling selection include random number, systematic, but not statistical.

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    Audit

    Uploaded by

    Tk Kim
    26 views4 pages
    This document discusses auditing techniques related to audit sampling. It covers topics such as selective testing, audit sampling, attributes sampling, stratified sampling, discovery sampling, and value-weighted sampling. The key points are: 1. Audit sampling involves applying procedures to less than 100% of items to evaluate characteristics of selected items and form an opinion about all items. 2. Auditing sampling is appropriate for substantive tests when tests of details are performed. 3. Auditing sampling for tests of controls is generally appropriate when control leaves evidence of performance. 4. Principal methods of sampling selection include random number, systematic, but not statistical.

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    audit

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    audit

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    This document discusses auditing techniques related to audit sampling. It covers topics such as selective testing, audit sampling, attributes sampling, stratified sampling, discovery sampling, and value-weighted sampling. The key points are: 1. Audit sampling involves applying procedures to less than 100% of items to evaluate characteristics of selected items and form an opinion about all items. 2. Auditing sampling is appropriate for substantive tests when tests of details are performed. 3. Auditing sampling for tests of controls is generally appropriate when control leaves evidence of performance. 4. Principal methods of sampling selection include random number, systematic, but not statistical.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    26 views4 pages

    Audit

    Uploaded by

    Tk Kim
    This document discusses auditing techniques related to audit sampling. It covers topics such as selective testing, audit sampling, attributes sampling, stratified sampling, discovery sampling, and value-weighted sampling. The key points are: 1. Audit sampling involves applying procedures to less than 100% of items to evaluate characteristics of selected items and form an opinion about all items. 2. Auditing sampling is appropriate for substantive tests when tests of details are performed. 3. Auditing sampling for tests of controls is generally appropriate when control leaves evidence of performance. 4. Principal methods of sampling selection include random number, systematic, but not statistical.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    CHAPTER8

    1.Thisinvolvestheapplicationoftheprocedurestolessthan100% oftheitemswithinan
    accountbalanceorclassoftransactions.Thisenablestheauditortoobtainandevaluate
    auditevidenceaboutsomecharacteristicsoftheselecteditemsinordertoform an
    opinion aboutthe characteristics ofallitems supporting an accountbalance or
    transactionclass.
    a.Audittechniques
    b.Selectivetesting
    c.Auditsampling
    d.Specificidentification
    2.Auditsamplingforsubstantivetestsisappropriatewhen
    a.Analyticalproceduresareused
    b.Theauditorwantstoeliminatesamplingrisks
    c.Apopulationcontainssmallnumberoflargevalueitems
    d.Testsofdetailsareperformed
    3.Auditsamplingfortestofcontrolisgenerallyappropriatewhen
    a.Controlleavesevidenceofperformance
    b.Controlleavesnoevidenceofperformance
    c.100%ofthetransactionsistestedA
    U
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    d.Examiningspecifichighvalueitemsinthepopulation
    4.Inasamplingapplication,thegroupofitemsaboutwhichtheauditorwantstoestimate
    somecharacteristiciscalledthe
    a.Population
    c.Attributeofinterest
    b.Sample
    d.Samplingunit
    5.Non-samplingerroroccurwhentheaudittestsdonotuncoverexistingexceptionsinthe
    a.Population
    b.Planningstage
    c.Sample
    d.Financialstatement
    6.PSA530identifiestwogeneralapproachestoauditsampling.Theyare
    a.Random &nonrandom
    b.Statistical&nonstatistical
    c.Precision&reliability
    d.Riskandnonrisk
    7.Therelationshipbetweensamplesizeandtheallowablesamplingrisksis
    a.Direct
    b.Inverse
    c.Sampledeviationrate
    d.Expecteddeviationrate
    8.Principalmethodsofsamplingselectionincludeallofthefollowingexcept A
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    a.Haphazard
    b.Random number
    c.Systematic
    d.Statistical
    9.Asampleinwhicheverypossiblecombinationofitemsinthepopulationhasachanceof
    constitutingthesampleisa
    a.Representativesample
    b.Random sample
    c.Statisticalsample
    d.Judgmentsample
    10.Theprocesswhichrequiresthecalculationofanintervalandthem selectstheitems
    basedonthesizeoftheintervalis
    a.Statisticalsampling
    b.Systematicselection
    c.Random selection
    d.Computerizedselection
    11.Amethodofsamplinginwhichalltheitemsinthepopulationaredividedintotwoor
    moresub-populationis
    a.Variablesampling
    b.Stratifiedsampling
    c.Attributesampling
    d.DivisiblesamplingA
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    12.Iftheauditorisconcernedthatapopulationmaycontainexceptions,thedetermination
    ofasamplesizesufficienttoincludeatleastonesuchexceptionisacharacteristicof
    a.Discoverysampling
    b.Random sampling
    c.Variablessampling
    d.Peso-unitsampling
    13.Whichofthefollowingstatisticalsamplingplansdoesnotuseafixedsamplesizefor
    testsofcontrols?
    a.PPSsampling
    b.Value-weightedsampling
    c.Sequentialsampling
    d.Variablessampling
    14.Valueweightedsamplingismostappropriatewhentheauditor
    a.Anticipatesunderstatementerrors
    b.Expectsnoerrors
    c.Anticipateoverstatementerrors
    d.Hasassessedcontrolriskathighlevel

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