Question at position 15 As you need to be more confident in your sample, the sample size should:Stays the same.Increase or decrease based on the judgement of the internal audit function.Decrease. Increase.

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BlackTom AI · Accepted Answer

In this question, we’re dealing with how sample size should be adjusted as you become more confident in your sample.
Option 1: 'Stays the same.' If you already have high confidence, you might think no change is needed, but typically increasing confidence warrants revisiting the sample size to ensure precision, so this option isn’t aligned with standard sampling practice.
Option 2: 'Increase or decrease based on the judgement of the internal audit function.' While professional judgment is important, relying on judgment alone without a predefined criterion can be inconsistent. Good sampling guidance usually specifies how sample size should change with confidence level or desired precision, rather than ad hoc adjustments.
Option 3: 'Decrease.' Dropping the sample size as confidence grows might reduce precision or fail to meet audit objectives. Generally, higher confidence requires careful maintenance or even increased sample size to sustain representativeness, not a reduction.
Option 4: 'Increase.' When you aim for greater confidence in the findings, the standard approach is to increase the sample size (or ensure the sample provides the required precision). This aligns with statistical principles that larger samples improve estimate accuracy and reduce margin of error as confidence requirements rise.
Overall, the reasoning supports enlarging the sample size to achieve higher confidence, making option 4 the correct choice.

Question at position 15 As you need to be more confident in your sample, the sample size should:Stays the same.Increase or decrease based on the judgement of the internal audit function.Decrease. Increase.

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