Auditors Who Prefer Statistical to Nonstatistical Sampling Believe That the Principal

question 47

Multiple Choice

Auditors who prefer statistical to nonstatistical sampling believe that the principal advantage of statistical sampling flows from its unique ability to

• A) Define the precision required to provide audit satisfaction.
• B) Mathematically measure uncertainty.
• C) Establish conclusive audit evidence with decreased audit effort.
• D) Promote a more legally defensible procedural approach.

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Definitions:

Consumer Protection Agency

A governmental organization dedicated to safeguarding the rights and interests of consumers, often by enforcing laws against unfair business practices.

Federal Trade Commission

A United States federal agency established to prevent unfair business practices and protect consumers from anticompetitive, deceptive, and unfair business practices.

Technological

Pertaining to technology; involving, using, or relating to advancements or tools that apply scientific knowledge for practical purposes.

Sociocultural

Relating to the social and cultural aspects or factors that influence a society and its individuals.