All of the following are advantages of statistical sampling except:
A)Statistical sampling eliminates the auditors' exposure to nonsampling risk.
B)Statistical sampling allows the probability of selecting sample items to be determined.
C)Statistical sampling allows the sample selection process to be replicated.
D)Statistical sampling increases the likelihood of selecting a representative sample.

Question

Quizplus · Accepted Answer

Statistical sampling does not eliminate all forms of audit risk, including nonsampling risk. Nonsampling risk arises from factors such as inadequate audit procedures, misinterpretation of audit evidence, or intentional misrepresentation by the client. Statistical sampling can help to mitigate sampling risk, which arises from the possibility that the sample is not representative of the population.

All of the Following Are Advantages of Statistical Sampling Except