Which of the following major stages of the audit is most closely related to variables sampling?
A) Determining preliminary levels of performance materiality.
B) Performing tests of controls procedures.
C) Performing substantive procedures.
D) Searching for the possible occurrence of subsequent events.

Question

Quizplus · Accepted Answer

Variables sampling is most closely related to the performance of substantive procedures. This is because it involves selecting a sample of items from the population and measuring a numerical value (e.g. dollar amount) for each item in the sample. The results of the sample are then projected to the entire population to form a conclusion about the account balance or transaction class being tested.

Which of the Following Major Stages of the Audit Is