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What are consequences of exceptions discovered in sample

Discussion Questions- Contemporary Auditing

Please answer the following 6 questions in at least 100 words per question. Do not answer them as an essay. Please answer then individually.

1. Explain the major difference between statistical and nonstatistical sampling. What are the three main parts of statistical and nonstatistical methods?

2. Define stratified sampling and explain its importance in auditing. How can an auditor obtain a stratified sample of 30 items from each of three strata in the confirmation of accounts receivable?

3. What is the use and importance of IT as it relates to audit evidence and documentation

4. What is the importance and reliability of evidence and audit documentation

5. What are consequences of exceptions discovered in sample testing

6. What are statistical and non-statistical techniques?

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