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Judgmental Sampling
The Judgement sampling is where, auditor using his own experience and awareness of the client's business and situations selects the sample to be tested with no use of any mathematical or statistical equipments. Statistical sampling is the drawing of inferences around a large volume of data by an inspection of a sample using statistical techniques in its selection.The benefits of judgment sampling:
Its disadvantages are:
Judgement sampling is yet the preferred technique by the majority of auditors and this is defended on the grounds which the auditor is weighing numerous pieces of evidence and is investigating many things at similar time that the entire procedure is too complex to be reduced to easy formulas.
an example of evidence that an auditor would use by illustrating the audit trail of stock purchases
i have assignment
what are the benefit of audit and its limitations
Permanent Audit File The permanent audit file might involve, inter alia: a) A copy of the enterprise's statutes or statutory documents and other legal governing the enterpr
list and explain four factors that influence the auditor''s judgement regarding the sufficiency if the evidence obtain
Post Balance Sheet Events Post balance sheet events occupy a very significant place in auditing and hence there is generally a program of work which is carried out in this are
Current Audit File The current audit file may involve inter alia: a) A copy of the audited financial statements and other report prepared such as a conclusion of audit work
IAS 36 Impairment of Assets It is very necessary for the auditor to determine the client's method for determining and accounting for impairments. Corresponding IAS 36, 'impai
Accounting Requirements - IAS 40 Investment Properties IAS 40 prescribes the accounting treatment about investment property and related disclosure necessities. Investment
during the preliminary stage of an audit, an auditor most likely would not do the following
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