Methods of Sampling 3 / 4

Specimen
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MC Question 1

Which of the following sampling methods correctly describes systematic sampling?

A. A sampling method which is a type of value-weighted selection in which sample size, selection and evaluation results in a conclusion in monetary amounts

B. A sampling method which involves having a constant sampling interval, the starting point for testing is determined randomly

C. A sampling method in which the auditor selects a block(s) of contiguous items from within the population

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Question 2b

ISA 530 Audit Sampling provides guidance on methods for selecting a sample of items for testing.

Required:
Identify and explain THREE methods of selecting a sample

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Question 2a

List and explain FOUR methods of selecting a sample of items to test from a population in accordance with ISA 530 (Redrafted) Audit Sampling and Other Means of Testing. (4 marks)

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