In using MUS,once the auditor has determined the sample size,which of the following is needed to determine the sampling interval?
A)Expected misstatement.
B)Tolerable misstatement.
C)Population size.
D)Mean.

Question

In using MUS,once the auditor has determined the sample size,which of the following is needed to determine the sampling interval?
A)Expected misstatement. 
B)Tolerable misstatement. 
C)Population size. 
D)Mean.

Quizplus · Accepted Answer

The sampling interval is determined by dividing the population size by the sample size. Therefore, knowledge of the population size is necessary to calculate the sampling interval. Expected misstatement and tolerable misstatement are used to determine the appropriate level of audit risk and the precision of the sample results. The mean is not relevant to determining the sampling interval.

In Using MUS,once the Auditor Has Determined the Sample Size,which