Which one of the following statements is NOT correct?
A) It is acceptable for auditors to use nonstatistical sampling methods.
B) An advantage of using statistical sampling is that the cost/benefit ratio is always positive.
C) It is acceptable for auditors to use statistical sampling methods.
D) The primary benefit of statistical sampling methods is the quantification of sampling risk.

Question

Quizplus · Accepted Answer

While statistical sampling can provide benefits such as increased precision and the ability to quantify sampling risk, the cost/benefit ratio is not always positive. The cost of performing statistical sampling may outweigh its benefits in certain situations, and nonstatistical sampling methods may be more appropriate and cost-effective.

Which One of the Following Statements Is NOT Correct