Defining population when sampling

Assignment Help Auditing
Reference no: EM1351131

What is the importance of defining the population when performing audit procedures? How would defining the population affect the sample size? How would incorrectly defining the population affect the sampling unit?

Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion?

Reference no: EM1351131

Questions Cloud

Importance of second materiality assessment : Why is it important that an auditor make a second assessment of materiality at the conclusion of the audit? Who in the audit firm is generally responsible for making these assessments?
Illstrate effect of capital formation by comparing : illstrate the effect of capital formation by comparing the prodution pissibility curves, at the present time and ten years in the future,for tow economies, one with the high and the other with the olw rate of capital formation.
Compute the total contribution margin : General Mills makes Wheaties, Cheerios, Betty Crocker cake mixes, and many other food products. Assume the product manager of a new General Mills cereal has estimated that the appropriate wholesale price for a carton of the cereal is $48.
What is the force constant of the spring : Calculate the location of the center of mass of the Earth-Moon-Sun system during a full Moon. A full Moon occurs when the Earth, Moon, and Sun are lined up. make Use of a coordinate system in which the center of the sun is at x=0 and the Earth and..
Defining population when sampling : What is the importance of defining the population when performing audit procedures? How would defining the population affect the sample size? How would incorrectly defining the population affect the sampling unit?
Personal space relevancy : Personal space is relevant to the person that has requirements of the imaginary boundaries.
Explain what is the probability distribution table : Explain What is the probability distribution table and Using the Excel Analysis ToolPak function descriptive statistics
Calculate the maximum amount for investment : An investment is expected to generate $2,000,000 every year for four (4) years. If the firm's cost of funds is 5 percent,
Find the coefficient of vertical compressibility of aquifer : How several cubic meters of water are removed from storage under an area of 1 million square meters when the average head decline in this area is 2 meters.

Reviews

Write a Review

Auditing Questions & Answers

  Internal audit

Describe and evaluate this type of internal audit. What types of organisation would it be most useful for?

  Accounting professional and ethical standards

Code of Ethics for Professional Accountants

  Prepare swag''s consolidated balance sheet

Prepare Swag's consolidated balance sheet

  Auditing and assurance

Notable operational challenges for 4X Heavy Ltd faced in 2012/2013 were but not limited to

  State of the company’s industry and associated risk factors

Audit partner is concerned about his lack of knowledge of the industry the company is operating in, state of the company's industry and associated risk factors

  Prepare a memo to the audit partner

Prepare a memo to the audit partner on the ‘state of the company's industry' and associated risk factors.

  Adjusting or non- adjusting events

State whether Event is adjusting or non-adjusting event.

  Audit financial data

As a consequence an accounts payable clerk and financial accountant were made redundant from the business during the year.

  Identify principal audit risk

To identify principal audit risk and corresponding audit procedures

  Auditing and assurance

Show the audit inherent risk and rate the risk as low, medium or high.

  National health reform

Explain the role of the following three 'bodies' in National Health Reform

  Prepare a memo on the state of the company''s industry

Prepare a memo on the 'state of the company's industry' and associated risk factors.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd