Sampling

Question 1

Sampling

Answer 1

Sampling refers to the technique that is used when it is not feasible to test an entire population of transactions.

Question 2

Type of sampling

Answer 2

Statistical sampling 
Judgmental sampling 
Attribute sampling 
Variable sampling .
Stop-or-go sampling 
Discovery sampling 
Stratified sampling

Question 3

Judgmental sampling (also known as nonstatistical sampling)

Answer 3

The IS auditor judgmentally and subjectively selects samples based on established criteria such as risk or materiality.

Question 4

Attribute sampling

Answer 4

This technique is used to study the characteristics of a given population to answer the question “how many?”.

Question 5

Variable sampling

Answer 5

This technique is used to statistically determine the characteristic of a given population to answer the question “how much?”.

Question 6

Stop-or-go sampling

Answer 6

This technique is used to permit sampling to stop at the earliest possible time

Question 7

Discovery sampling

Answer 7

This technique is used when an IS auditor is trying to find at least one exception in a population.

Question 8

Stratified sampling

Answer 8

Here, the event population will be divided into classes, or strata, based upon the value of one of the attributes.

Question 9

Statistical sampling

Answer 9

The IS auditor uses a technique of random selection that will statistically reflect the entire population.

Question 10

Confidence Coefficient

Answer 10

Reliability factor

Question 11

sampling risk

Answer 11

1 minus coefficient percentage

Question 12

precision

Answer 12

Represent how closely the sample represents entire population

Question 13

Low precison

Answer 13

Means high accuracy

Question 14

High precicion

Answer 14

Means low accuracy

Question 15

Small sample

Answer 15

Makes the precision higher, and the risk of exceptions in the entire population is higher