Why sampling is important in the auditing process

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Reference no: EM1351124

1. Explain why sampling is important in the auditing process. Give an example of an instance where sampling would be appropriate and an example of where it would not, explain why

2. Define inherent risk and explain how this applies to transaction cycles. Give an example of how flowcharting or control matrices could help identify and mitigate inherent risks

Reference no: EM1351124

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