What Is an Auditor's Evaluation of a Statistical Sample for Attributes

question 34

Multiple Choice

What is an auditor's evaluation of a statistical sample for attributes when a test of 100 documents results in four deviations if the tolerable rate of deviation is 5%,the expected population deviation rate is 3%,and the allowance for sampling risk is 2%?

• A) Accept the sample results as support for planned reliance on the control because the tolerable rate of deviation less then allowance for sampling risk equals the expected population deviation rate.
• B) Modify planned reliance on the control because the sample rate of deviation plus the allowance for sampling risk exceeds the tolerable rate of deviation.
• C) Modify planned reliance on the control because the tolerable rate of deviation plus the allowance for sampling risk exceeds the expected population deviation rate.
• D) Accept the sample results as support for planned reliance on the control because the sample rate of deviation plus the allowance for sampling risk exceeds the tolerable rate of deviation.

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Definitions:

Interdisciplinary Body

A group composed of members from different academic or professional fields, working together on a common project or goal.

Scientific Methods

A systematic and logical approach to discovering how things in the universe work, involving observations, hypotheses, experiments, and conclusions based on empirical evidence.

Contingency Thinking

The ability to recognize that different situations or problems may require different approaches or solutions.

Multidisciplinary Field

An area of study that integrates knowledge and methodologies from various disciplines to explore complex problems or topics.