When planning the sample,
A) auditors using attributes sampling assign a low, medium, or high acceptable risk of overreliance.
B) tables are used by the auditor in statistical sampling to determine initial sample size.
C) most auditors use attributes sampling for medium to small populations.
D) the tolerable exception rate does not need to be specified for statistical sampling.

Question

Quizplus · Accepted Answer

Tables are used by the auditor in statistical sampling to determine initial sample size. For attributes sampling, the auditor assigns a low, medium, or high acceptable risk of overreliance and specifies the tolerable exception rate. Most auditors use attributes sampling for medium to small populations.

When Planning the Sample