Why Do Auditors Find MUS Appealing

question 128

Multiple Choice

Why do auditors find MUS appealing?

• A) MUS increases the likelihood of selecting a balance of high and low dollar items.
• B) MUS is easy to use in the audit environment.
• C) MUS provides a nonstatistical, rather than a statistical, conclusion.
• D) When misstatements are found, MUS rarely produces bounds in excess of materiality.

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Definitions:

Margin Of Error

An expression of the amount of random sampling error in a survey's results, which indicates the range within which the true value lies with a certain degree of confidence.

Sample Standard Deviations

A measure of variability or dispersion within a sample dataset, estimating how much individual measurements in the sample differ from the sample mean.

Equal Sample Sizes

A condition in experimental design or analysis where all groups or conditions have the same number of observations.

Confidence Interval

A range of values, derived from a data set, that is likely to contain the value of an unknown population parameter with a certain degree of confidence.