When conducting variables sampling,auditors typically examine
A) transactions of components of the account balance or class of transactions.
B) the balances in an account balance or class of transactions from one or more prior years.
C) the separation of duties among client personnel for transactions related to the account balance or class of transactions.
D) minutes from meetings of the client's board of directors.

Question

Quizplus · Accepted Answer

When conducting variables sampling, auditors typically examine transactions of components of the account balance or class of transactions to determine whether the account balance or class of transactions is materially misstated. This involves selecting a sample from the population of transactions and testing them for accuracy or completeness. The auditor may also use statistical techniques to estimate the extent of misstatement in the population based on the results of the sample. Options B, C, and D are not relevant to variables sampling.

When Conducting Variables Sampling,auditors Typically Examine