According to AU-C 530, Audit Sampling, statistical sampling _______.
A)should only be conducted for public companies
B)is an approach to sampling that involves a random selection of sample items and the use of an appropriate statistical technique to determine sample size and evaluate sample results, including measurement of sampling risk
C)is an approach to sampling that involves a random selection of sample items and the use of an appropriate non-statistical technique to determine sample size and evaluate sample results, including measurement of sampling risk
D)should only be conducted for private companies

Question

Quizplus · Accepted Answer

According to AU-C 530, audit sampling is an approach that involves a random selection of sample items and the use of an appropriate statistical technique to determine sample size and evaluate sample results, including measurement of sampling risk. It is not limited to public companies or private companies.

According to AU-C 530, Audit Sampling, Statistical Sampling _______