Identify the relation between sample size and the accuracy of audit opinion
Answers
Answer:
Sample size measures the number of individual samples measured or observations used in a survey or experiment. For example, if you test 100 samples of soil for evidence of acid rain, your sample size is 100. If an online survey returned 30,500 completed questionnaires, your sample size is 30,500. In statistics, sample size is generally represented by the variable \"n\".
Following last year’s audit
Audit firms use the same types of criteria to set an audit’s confidence level (firm policy, population size, results of analytical review, and other known facts about the client and its business environment) as they do to set tolerable and expected error figures.
If the audit client is new, your firm’s policy will dictate the tolerable and expected error figures.
If you’re working with a repeat client, last year’s tolerable and expected error figures will be your baseline. However, you may determine that those figures should be changed.
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Answer:
sample size measure number the samples.
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