When conducting an audit,statistical sampling involves
A)calculated selections and probability to evaluate results
B)less staff and training,and is less costly than other sampling
C)random selection and probability to evaluate results
D)allows the auditor to select a sample they believe appropriate

Question

Quizplus · Accepted Answer

Statistical sampling involves using random selection and probability to evaluate results. This method allows for a representative sample to be chosen, reducing the risk of bias and increasing the reliability of the results. Calculated selections and the ability to select samples the auditor believes appropriate are not necessarily based on probability and can lead to a less accurate representation of the population being audited. While statistical sampling may require more staff and training, it can ultimately be more cost-effective by reducing errors and inaccuracies in audit results.

When Conducting an Audit,statistical Sampling Involves