What is the primary purpose of audit sampling?

Audit sampling is primarily used to evaluate characteristics or attributes of a population by testing a subset of that population, which is less than 100% of the items. This approach is both efficient and effective, as it allows auditors to draw conclusions about the entire population based on the analysis of a selected sample. This method is critical because examining every single item within an account balance can be impractical, time-consuming, and costly.

Sampling enables auditors to make informed judgments about the financial statements while still maintaining a reasonable level of assurance about their accuracy. The key point is that sampling facilitates the evaluation of a larger set of data without necessitating a complete examination, which aligns with the common practice of using statistical methods or judgment-based sampling techniques to focus on high-risk areas or specific characteristics of interest.

In contrast to the correct response, other options present limitations or impracticalities. Testing every item within an account balance would be exhaustive and typically unnecessary. Providing absolute assurance is not feasible in auditing because all work is conducted under a framework of reasonable assurance, which acknowledges inherent limitations. Similarly, while identifying potential misstatements is a part of the audit process, the primary goal of sampling is not to identify every single error, but rather to provide a representative view that can