Question

What are some of the advantages and disadvantages to using statistical sampling versus judgment sampling ?

Answer 1

Answer:

Judgmental sampling and statistical sampling both are used in testing the sample however the approaches used are different. In judgmental sampling the sample is tested purely basing on the auditor own judgment and no statically measures are used.

Advantages and disadvantages of using statically sampling rather than using Judgmental sampling:

Advantages:

1. Statiscitcal sampling is very helpful when there is large sample size.

2. This is more scientific

3. There will always be logic behind of how we have selected the sample.

4. There will be no place for personal baise in selecting the sample.

Disadvantages:

1. Most of the auditors prefer judgmental sampling as there is place for their professional judgment.

2. In Judgmental sampling they can use their experience in selecting sample rather than going through the calculations.

3. In judgmental sampling the auditor need not have knowledge of any special statistical tools.q