Certified Government Auditing Professional (CGAP) 2025 – 400 Free Practice Questions to Pass the Exam

Using sampling in an audit significantly reduces the time and cost associated with the audit process. When auditors use sampling methods, they can examine a representative subset of the total population instead of reviewing every single transaction or account. This approach saves considerable effort and resources, allowing auditors to focus their attention on areas of higher risk or materiality while still obtaining sufficient evidence to draw reasonable conclusions about the overall accuracy and integrity of the financial statements. By balancing efficiency with effectiveness, sampling helps auditors maintain a high level of quality in their work without expending unnecessary resources.

The other options present misconceptions about sampling. For instance, it does not guarantee absolute accuracy, as complete verification of all data would be required for such assurance. Additionally, sampling does not eliminate the need for evidence; rather, it focuses the evidence-gathering process. Lastly, sampling cannot provide a full review of all accounts, as it is inherently selective and limited to a subset of the whole population.