Question

Which of the following represents the correct calculation of the sampling interval?

a. Tolerable error ÷ Risk of incorrect acceptance.
b. Sample size ÷ Population size.
c. Tolerable error × Risk of incorrect acceptance.
d. Population size ÷ Sample size

Answer 1

The correct answer is

d. Sampling Interval = Population size ÷ Sample size.

Explanation:

According to Johnstone et al., (2014) "Once the auditor has determined the appropriate sample size, a sampling interval is calculated by dividing the population size by the sample size."

Thus,

Sampling Interval = Population size ÷ Sample size.

Johnstone, K., Rittenberg, L. and Gramling, A. (2014). Auditing: A Risk-Based Approach to Conducting a Quality Audit. Ninth Edition.