Sampling Policy

Sampling can be described as a statistical procedure:

• A. Used to provide factual evidence about a population from which a sample is selected

• B. To infer about the known universe from a knowledge of a sample drawn from it.

• C. Used to provide factual evidence about a sample selected from the population

• D. Both (A) and (B)

Random Sampling implies

• A. Haphazard Sampling

• B. Probability Sampling

• C. Systematic Sampling

• D. Sampling with the same probability for each unit

All of the following are advantages of Sampling, except:

• A. It is cheaper to collect data from a part of the whole population and is economically in advance.

• B. Sampling gives more time to auditor for data collection, so it is quick and has a lot of time for collection of inflammation.

• C. Sampling no longer requires the auditor to get the population

• D. Sampling is the only practical method when the population is infinite

Manual access review is done quarterly by the technology team with the help of the business team. Number of samples to be selected from the population when doing TOE of this control would most likely be:

• A. 10% of total population or 25 whichever is lower

• B. 5

• C. 2

• D. None of the above

The system automatically computes the interest earned during a certain period. Number of samples to be selected from the population when doing TOE of this control would most likely be:

• A. 10% of total population or 25 whichever is lower

• B. 5

• C. 2

• D. None of the above