ACCA AA · Chapter 10 · Question 2 of 10
The auditor wishes to select a sample of 60 items from a population of 2,400 sequentially numbered sales invoices using systematic selection. What is the sampling interval?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) 40
Explanation
Sampling interval = population size / sample size = 2,400 / 60 = 40. The auditor selects a random starting point between 1 and 40 and then every 40th invoice. The figure 24 incorrectly divides by 100, and 144 is 2,400 x 0.06.
More Sampling, automated tools and using the work of others MCQs
- Q4Which of the following sample selection methods is NOT appropriate when using statistical sampling?
- Q5In which situation would the auditor most likely test 100% of a population rather than use sampling?
- Q6What is 'test data' as a computer-assisted audit technique?
- Q7Which of the following is a key benefit of using data analytics in an audit?
- Q8Under ISA 620, which of the following must the auditor evaluate before using the work of an auditor's expert, such as a property valuer?