STUDY UNIT SEVEN AUDIT SAMPLING - Gleim Exam Prep

STUDY unit SEVENAUDIT SAMPLING (23 pages of outline) of Probability.. SAMPLING .. SAMPLING .. SAMPLING -- Classical.. SAMPLING -- Monetary- unit .. the SAMPLING Method.. Control Techniques..235 The results of internal auditing work often have someuncertaintybecause resource limitationsrequire internal auditors to usesampling. The costs of a complete review of records, transactions,events, performance of control procedures, etc., may exceed both the benefits and the availableresources. In these cases, SAMPLING must be done. Thus, internal auditors may apply statisticalmethods that permit a quantitative assessment of the accuracy and reliability of the sample this way, the internal auditors can evaluate their hypotheses about the matters tested and reduceuncertainty to an acceptable FUNDAMENTALS OF is important to management decision making because of the unpredictability offuture events.

require internal auditors to use sampling. The costs of a complete review of records, transactions, events, performance of control procedures, etc., may exceed both the benefits and the available

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