Audit sampling is commonly used for which type of audit evidence?
A)Reperformance.
B)Analytical procedures.
C)Inquiry.
D)Observation.

Question

Quizplus · Accepted Answer

Audit sampling is commonly used for testing the operating effectiveness of controls and testing the accuracy and completeness of transactions, account balances, and disclosures. Reperformance involves the auditor independently executing a control or other auditing procedure that had been originally performed by the client or another auditor. Therefore, audit sampling is commonly used when performing reperformance to obtain audit evidence. Analytical procedures involve comparing financial information to expectations developed by the auditor, while inquiry involves obtaining information from management or others within the entity. Observation involves watching a process or procedure being performed. While audit sampling may also be used in conjunction with these types of audit evidence, it is most commonly used with reperformance.

Audit Sampling Is Commonly Used for Which Type of Audit