An advantage of statistical sampling is that it allows an auditor to measure sampling risk.

Question

Quizplus · Accepted Answer

Statistical sampling involves using mathematical and probability-based methods to select and test a portion of the population. This allows the auditor to estimate the likelihood of a sampling error, or the risk that the sample may not be representative of the entire population. By measuring sampling risk, the auditor can determine the level of confidence they have in their conclusions based on the sample results.

An Advantage of Statistical Sampling Is That It Allows an Auditor