Multiple Choice
Which of the following best describes the auditors' response to a client's use of statistical sampling techniques to estimate the inventory?
A) The auditors should satisfy themselves as to the statistical validity of the technique,and the reasonableness of the allowance for sampling risk and sampling error used.
B) The auditors should qualify their opinion,because the client must perform a complete count of the inventory.
C) The auditors should increase the extent of their test counts to compensate for the use of a statistical technique.
D) The auditors should withdraw from the engagement.
Correct Answer:

Verified
Correct Answer:
Verified
Q48: In auditing a client's inventory,the auditors must
Q49: Which of the following is an auditor
Q50: Which one of the following procedures would
Q51: The most reliable procedure for an auditor
Q52: Which of the following is an internal
Q54: The lower-of-cost-or-market test by the auditors is
Q55: An auditor has accounted for a sequence
Q56: For good internal control over purchase transactions,purchases
Q57: After accounting for a sequence of inventory
Q58: Effective internal control for purchases generally can