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VOCABULARY TERMS: CPA: AUD: AUDIT SAMPLING: ATTRIBUTES SAMPLING VOCAB
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VOCABULARY TERMS: CPA: AUD: AUDIT SAMPLING: ATTRIBUTES SAMPLING VOCAB
Terms in this set (12)
Inversely Related to Sample Size
How are these three factors related to sample size :Tolerable error rate, Risk of over-reliance, and Risk of under-reliance?
(# errors)/n
What is the formula for "Observed Deviation Rate"
Directly Related to Sample Size
How are these two factors related to sample size: Expected error rate, Population size?
Random Number Sampling
Each transaction has the same probability of being selected
Block Sampling
A group of contiguous items
Block and Haphazard
What are the two "Judgmental Sampling Approaches"?
Random Number and Systematic
What are the two "Statistical Sampling Approaches"?
Attributes Sampling Results Necessary for an Auditor to Rely on the Control
Only if the error rate, based on the upper bound of the confidence interval is less than or equal to the stated "tolerable error" rate
Relevant time period, Specific sampling unit
What are the two items considered in Identifying the Relevant Population?
Haphazard Sampling
Arbitrary selection, with no "conscious" biases
1 Identify Sampling Objective, 2 Define what Constitutes an Occurrence, 3 Identify Relevant Population, 4 Determine Sampling Method, 5 Determine Sample Size, 6 Select the Sample, 7 Evaluate Results, 8 Document Sampling Procedures
What are the "Eight Steps in Attributes Sampling Plan" (In Order)?
Systematic Sampling
e.g., selecting every nth item
;