If an auditor, planning to use statistical sampling, is concerned with the dollar value of mathematical errors in sales invoices, the auditor would most likely NOT utilise:
A) sampling for attributes.
B) sampling for variables.
C) stratified random sampling.
D) random sampling.

Question

Quizplus · Accepted Answer

Sampling for attributes is used to estimate the proportion of a population that possesses a specific characteristic, such as the presence or absence of errors. It is not suitable for estimating the dollar value of errors, which is the auditor's concern in this scenario. Sampling for variables, stratified random sampling, and random sampling are more appropriate for estimating monetary amounts.

If an Auditor, Planning to Use Statistical Sampling, Is Concerned