Podcast
Questions and Answers
What type of selection is best for prenumbered items?
What type of selection is best for prenumbered items?
- Haphazard Selection
- Random Selection (correct)
- Systematic Selection
- Block Selection
Which of the following is true about managing non-sampling risks?
Which of the following is true about managing non-sampling risks?
- Adequate planning and training are not required
- Proper direction, supervision and review are not necessary
- Cannot be eliminated (correct)
- Non-statistical methods are more effective
In attribute sampling, which relationship is correct regarding sample size and assessed RoMM (specifically CR)?
In attribute sampling, which relationship is correct regarding sample size and assessed RoMM (specifically CR)?
- Direct
- No relationship
- Non-statistical relationship
- Inverse (correct)
What does variable sampling involve?
What does variable sampling involve?
Which of the following is a characteristic of attribute sampling?
Which of the following is a characteristic of attribute sampling?
What type of selection involves a higher probability for items with higher amounts?
What type of selection involves a higher probability for items with higher amounts?
What is the main advantage of using value-weighted selection for sampling?
What is the main advantage of using value-weighted selection for sampling?
Which attribute testing method is least desirable due to a possible concentration of samples?
Which attribute testing method is least desirable due to a possible concentration of samples?
What does 'tolerable deviation rate' refer to in the context of internal control procedures?
What does 'tolerable deviation rate' refer to in the context of internal control procedures?
In attributes sampling, what is the approach regarding samples containing anomalous errors?
In attributes sampling, what is the approach regarding samples containing anomalous errors?
Which method uses each monetary unit as one sampling unit?
Which method uses each monetary unit as one sampling unit?
Why is systematic selection less desirable compared to other sampling methods?
Why is systematic selection less desirable compared to other sampling methods?
Which procedure is least likely reliable when used alone but enhances the reliability of other audit procedures?
Which procedure is least likely reliable when used alone but enhances the reliability of other audit procedures?
What is the main difference between vouching and tracing?
What is the main difference between vouching and tracing?
What is an example of a non-sampling risk associated with audit procedures?
What is an example of a non-sampling risk associated with audit procedures?
Which factor contributes to managing sampling risks in auditing?
Which factor contributes to managing sampling risks in auditing?
What is the purpose of using analytical procedures in auditing?
What is the purpose of using analytical procedures in auditing?
When is tracing typically used in auditing?
When is tracing typically used in auditing?
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