Audit Sampling Concepts

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What is the nature of audit sampling?

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The nature of audit sampling refers to the process of selecting a subset of items from a population to draw conclusions about the entire population.

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What is the sampling approach in auditing?

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The sampling approach in auditing involves selecting a representative sample from a population to evaluate the characteristics of that population.

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What is statistical sampling?

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Statistical sampling is a method that uses statistical techniques to determine the sample size and to evaluate the results.

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What is the non-sampling approach?

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The non-sampling approach refers to methods that do not rely on statistical techniques for selecting samples.

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What is sampling risk?

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Sampling risk is the risk that the sample selected is not representative of the population, leading to incorrect conclusions.

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What is non-sampling risk?

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Non-sampling risk is the risk of incorrect conclusions due to factors other than the sample selection, such as misinterpretation of evidence.

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What is the discussion on sampling for audit tests?

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The discussion on sampling for audit tests involves understanding how to effectively use sampling methods to test controls and substantive procedures.

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What is sampling for test of control?

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Sampling for test of control involves selecting a sample to evaluate the effectiveness of internal controls.

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What is sampling for substantive test?

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Sampling for substantive test involves selecting a sample to test the validity of account balances and transactions.