CAF-8 · Chapter 4 · Question 8 of 10
During sample evaluation, an auditor finds an error caused by a one-time computer glitch that has since been fixed and proven not to affect any other transactions. This error is best classified as an:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Anomaly
Explanation
An anomaly is a misstatement or deviation that is demonstrably not representative of misstatements or deviations in the broader population.
More Evidence and Sampling MCQs
- Q10An auditor notices that 5 massive inventory items account for 60% of the total inventory value, while 10,000 small items account for the…
- Q1According to ISA 500, audit evidence is considered more reliable when it is:
- Q2An auditor intends to select a sample of sales invoices. To ensure every invoice has an equal chance of being selected, which sampling…
- Q3What is the definition of 'Sampling Risk'?
- Q4To improve audit efficiency, an auditor divides the trade receivables population into three groups based on balance sizes (High, Medium…