Which of the following statements is true when selecting a sample of invoices from a population to perform tests of controls?
A)The audit team should select a few more items than needed to replace any cases in which an invoice is missing or destroyed.
B)If the audit team wishes to use statistical sampling,either block or haphazard selection is appropriate.
C)Computerized audit techniques can be used to define the population but not to select sample items.
D)The audit team's goal in selecting a sample is to increase the likelihood that it is representative of the population.

Question

Quizplus · Accepted Answer

The goal of selecting a sample from a population is to increase the likelihood that it is representative of the population. This ensures that the results of the tests of controls can be generalized to the entire population. Option A is not correct as selecting a few more items than needed would not be an appropriate approach as it may inflate the sample size and accuracy of testing. Option B is not correct as statistical sampling can be either random or systematic, not haphazard. Option C is not correct as computerized audit techniques can be used both to define a population and to select sample items.

Which of the Following Statements Is True When Selecting a Sample