Harvey Jones, CPA, Uses Statistical Sampling to Test Control Procedures

question 59

Multiple Choice

Harvey Jones, CPA, uses statistical sampling to test control procedures. What is a benefit of using statistical sampling?

• A)It provides a means of mathematically measuring the sampling risk that result from examining only a part of the data.
• B)It eliminates the use of judgment required of Jones because the AICPA has established numerical criteria for this type of testing.
• C)It increases Jones' knowledge of the entity's prescribed procedures and their limitations.
• D)It is required by generally accepted auditing standards.

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Definitions:

Employee Development

Organized activities and programs aimed at improving the knowledge, skills, and abilities of employees to enhance their performance and career progression.

Off-site

Activities or work performed away from the primary business location or outside the usual place of employment.

Assessment

The process of evaluating the performance, abilities, or qualities of an individual or organization.

Abilities

Natural or acquired skills and capacities that allow individuals to perform tasks effectively.