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Leia gratuitamente 60 dias Cancele a qualquer momento. Population Size = 10,000 items Sample Size = 100 items. How does risk of incorrect acceptance affect sample size?The risk of incorrect acceptance can be reduced by increasing the size of the samples used in various audit tests, though doing so increases the cost of the audit. Thus, the auditor needs to balance a potential reduction in the risk of incorrect acceptance against spending too much to conduct an audit.
What do you think will affect the sample size for substantive procedures?The lower the reliance on the results of a substantive procedure using audit sampling, the higher the sampling risk the auditor is willing to accept, and, consequently, the smaller the sample size. The higher monetary value of the tolerable error rate, the smaller the sample size and vice versa.
What is the effect to the sample size when the tolerable error increases?There is an inverse relationship between sample size and tolerable misstatement, so the sample size would decrease if the tolerable misstatement increases.
How does risk affect sample size?The lower the figure of materiality and the lower the sampling risk the auditor is willing to accept (i.e. the higher the risk factor), the larger the sample size will be.
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What effect on sample size does increasing the allowable risk of incorrect acceptance have for a substantive test?
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