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Questions and Answers
What factors influence the sample size for the test of controls?
What factors influence the sample size for the test of controls?
- Increase in how indicative sample results are to the actual deviation
- Increase in expectation of operating effectiveness of controls (correct)
- Negligible effect of the number of sampling units in the population
- Decrease in sample size
Which approach to audit sampling does PSA 530 identify?
Which approach to audit sampling does PSA 530 identify?
- Random (correct)
- Systematic
- Convenience
- Judgmental
What impact does an increase in the expected rate of deviation have on the sample size?
What impact does an increase in the expected rate of deviation have on the sample size?
- Increase in expected rate of deviation is not related to sample size
- Increase in sample size (correct)
- Negligible effect on sample size
- Decrease in sample size
How does an increase in the tolerable rate of deviation impact the sample size?
How does an increase in the tolerable rate of deviation impact the sample size?
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What is the effect of an increase in the number of sampling units in the population on the sample size?
What is the effect of an increase in the number of sampling units in the population on the sample size?
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