Statistical sampling - advantages, Auditing

Assignment Help:

Statistical sampling - Advantages

A. It is defensible and scientific;

B. It gives a precise mathematical statement for probabilities of to be correct;

C.  It is efficient over large samples are not in use;

D. It tends to source uniform standards among different auditing firms;

E. It can be used through lower grade staff who due to lack of experience may be lacking the necessary judgment required through the judgment sampling.


Related Discussions:- Statistical sampling - advantages

Classification of management representations, Classification of Management ...

Classification of Management Representations The thing to note is which during the course of the audit the auditor obtains various representations from the management which ca

Acounting information systems, discuss the 4 stages of data processing in a...

discuss the 4 stages of data processing in an accounting information system

Independent auditors'' report, INDEPENDENT AUDITORS' REPORT Board of Dir...

INDEPENDENT AUDITORS' REPORT Board of Directors Los Angeles County Fair Association Pomona, California We have audited the accompanying consolidated statements of financial posi

Audit evidence, the availability of audit evidence is necessary but not suf...

the availability of audit evidence is necessary but not sufficient condition for absolute reliance on the figure presented for audit

Discovery of unlawful acts, Discovery of unlawful acts When an auditor ...

Discovery of unlawful acts When an auditor discovers unlawful acts, usually he is not expected to disclose to the police or other authorities unless: The client authorise

Discuss the value of external audit, The management of a newly incorporate...

The management of a newly incorporated company is unsure as to the need for an audit. Your services have been requested to explain to management the concept of auditing. Requir

Audit of inventories, Examine consignment agreement s and contracts

Examine consignment agreement s and contracts

Ownership and existence - verification procedures, Ownership and Existence ...

Ownership and Existence - Verification Procedures Establishment of title and beneficial ownership of investments is not convincingly possible. Conversely, evidence is obtainab

Key audit areas, Key Audit Areas Key audit areas in detail (a) Asc...

Key Audit Areas Key audit areas in detail (a) Ascertainment of creditors and debtors:   Insurance companies do not keep their personal ledgers in such a way as to prod

Write Your Message!

Captcha
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