It is permissible for an auditor to test the entire inventory population for certain types of audit tests in order to eliminate the need for more costly tests involving sampling.

Question

Quizplus · Accepted Answer

This is true. Auditing standards allow auditors to test the entire inventory population for certain types of audit tests, such as testing for existence or completeness, to eliminate the need for more costly tests involving sampling. However, this is not always feasible or necessary for all audit tests.

It Is Permissible for an Auditor to Test the Entire