Sampling – NBC Institute

AAA – Nov 2013 – L3 – AII – Q10 – Audit Reporting.

Determine the error acceptable in a population confirming the sample result aligns with audit objectives.

Question

The maximum error in the population that the auditor can accept as being consistent with the conclusion that sample result confirms achievement of the audit objective is known as……………..error.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Objective, Audit Standards, Population Error, Sampling
Level: Level 3

Topic: Audit Reporting
Series: NOV 2013

AA – Nov 2023 – L2 – Q2 – Audit Evidence

Discuss requirements and methods for designing an audit sample and circumstances when sampling may be inappropriate.

Question

ISA 530 Audit sampling states that the objective of the auditor when using audit sampling is to provide a reasonable basis to draw conclusions about the population from which the sample is drawn.

Required:

a. In accordance with ISA 530, what are the requirements the auditor should consider in designing a sample size? (6 Marks)

b. Explain FIVE sampling methods that are available for the use of the auditor. (10 Marks)

c. State FOUR circumstances where sampling may not be appropriate for use by the auditor. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, Audit Methods, ISA 530, Non-Sampling Circumstances, Sampling
Level: Level 2

Topic: Audit evidence

QTB – May 2017 – L1 – SB – Q2a – Statistics

Probability calculations for dice roll and random sampling in block production.

Question

i. A six-sided and fair die is thrown into the air. What is the probability:

Of NOT getting a SIX?
That either a THREE, a FOUR, or a FIVE will fall uppermost?
Of obtaining an even number?
(5 Marks)

ii. A block-making factory produces TWO types of blocks: 6-inch and 9-inch. ONE quarter of its output on a particular day are 6-inch blocks, while the remaining three-quarters are 9-inch blocks. If samples of 3 are taken at random, what is the probability of obtaining:

One 6-inch block?
Two 6-inch blocks?
One or two 6-inch blocks?
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Block Manufacturing, Dice, Probability, Sampling
Level: Level 1

Topic: Statistics
Series: MAY 2017

AAA – Nov 2013 – L3 – AII – Q10 – Audit Reporting.

Determine the error acceptable in a population confirming the sample result aligns with audit objectives.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Objective, Audit Standards, Population Error, Sampling
Level: Level 3

Topic: Audit Reporting
Series: NOV 2013

AA – Nov 2023 – L2 – Q2 – Audit Evidence

Discuss requirements and methods for designing an audit sample and circumstances when sampling may be inappropriate.

Question

ISA 530 Audit sampling states that the objective of the auditor when using audit sampling is to provide a reasonable basis to draw conclusions about the population from which the sample is drawn.

Required:

a. In accordance with ISA 530, what are the requirements the auditor should consider in designing a sample size? (6 Marks)

b. Explain FIVE sampling methods that are available for the use of the auditor. (10 Marks)

c. State FOUR circumstances where sampling may not be appropriate for use by the auditor. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit evidence, Audit Methods, ISA 530, Non-Sampling Circumstances, Sampling
Level: Level 2

Topic: Audit evidence

QTB – May 2017 – L1 – SB – Q2a – Statistics

Probability calculations for dice roll and random sampling in block production.

Question

i. A six-sided and fair die is thrown into the air. What is the probability:

Of NOT getting a SIX?
That either a THREE, a FOUR, or a FIVE will fall uppermost?
Of obtaining an even number?
(5 Marks)

One 6-inch block?
Two 6-inch blocks?
One or two 6-inch blocks?
(5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Block Manufacturing, Dice, Probability, Sampling
Level: Level 1

Topic: Statistics
Series: MAY 2017

Question Tag: Sampling

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

AAA – Nov 2013 – L3 – AII – Q10 – Audit Reporting.

Determine the error acceptable in a population confirming the sample result aligns with audit objectives.

AA – Nov 2023 – L2 – Q2 – Audit Evidence

Discuss requirements and methods for designing an audit sample and circumstances when sampling may be inappropriate.

QTB – May 2017 – L1 – SB – Q2a – Statistics

Probability calculations for dice roll and random sampling in block production.

AAA – Nov 2013 – L3 – AII – Q10 – Audit Reporting.

Determine the error acceptable in a population confirming the sample result aligns with audit objectives.

AA – Nov 2023 – L2 – Q2 – Audit Evidence

Discuss requirements and methods for designing an audit sample and circumstances when sampling may be inappropriate.

QTB – May 2017 – L1 – SB – Q2a – Statistics

Probability calculations for dice roll and random sampling in block production.

Our offerings

Contact Info

Customer

Get In Touch