Which of the following statements is not correct?
A)It is possible to vary the sample size from one unit to 100% of the items in the population.
B)The decision of how many items to test should not be influenced by the increased costs of performing the additional tests.
C)The decision of how many items to test must be made by the auditor for each audit procedure.
D)The sample size for any given procedure is likely to vary from audit to audit.

Question

Quizplus · Accepted Answer

The statement "The decision of how many items to test should not be influenced by the increased costs of performing the additional tests" is incorrect. The decision of how many items to test should take into consideration the cost-benefit analysis of testing additional items. Increased costs should be weighed against the potential benefits of testing a larger sample size.

Which of the Following Statements Is Not Correct