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Discovery sampling is one of the major activity that will uncover signs of fraud or will help confirm or ally suspicion: a) TRUE b) FALSE

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Question added by Mir Mujtaba Ali , Internal Audit Manager , Confidential
Date Posted: 2014/12/08
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Yes. True. The circumstances can be identified by observation after the sampling identification and more in the nature of a personal skill...that is what I feel, personally.

Lesley Lanag CMA CPA
by Lesley Lanag CMA CPA , Senior Accountant , Takaful Emarat Insurance (P.S.C)

Yes. With discovery sampling, discovery of atleast one error will cause the entire population to be rejected or where the sample is error-free will cause the population to be accepted entirely.

Alex Al Yazouri
by Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Absolutely correct.

Mohammed Salim Allana
by Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

a. True.....will definitely alert about a potential fraud but could not fully rely on this method to detect frauds.

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