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Which sampling plan is used to test controls?
Attribute sampling is a statistical process used in audit procedures that aims to analyze the characteristics of a given population. This practice is often used to test whether or not a company's internal controls are being correctly followed.
In which of the following circumstances would it be appropriate to apply a statistical sampling approach using Mus?
MUS methods are especially applicable when making selections for accounts receivable confirmations, loan receivable confirmations, inventory price tests, and fixed asset addition tests.
What is statistical sampling in auditing?
1. Statistical audit sampling. Statistical audit sampling involves a sampling approach where the auditor utilizes statistical methods such as random sampling to select items to be verified. Random sampling is used when there are many items or transactions on record.
Which of the following sample selection methods is not appropriate when using statistical sampling?
Haphazard selection is not appropriate when using statistical sampling. (5) Block Sampling: This method involves selection of a block(s) of contiguous items from within the population.
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