ACC 411-Audit Sampling
ACC 411 Instructions Week 6
Part One (Two Pages)
Discuss the importance of selecting a sample that may be considered representative of the entire population.
Consider these questions:
What is the first step in the process of selecting a sample?
Are there occasions where the sample selected does not represent the entire population?
How auditors evaluate risk in relation to sample size. Do risks change depending on the size of the sample?
What happens when auditors find misstatements that are above the expected deviation rate?
Part Two: Two Pages
Explain why statistical sampling provides a better defense for an auditor when sued in a court of law.