The correct answer is: Sampling permits conclusions to be drawn about a population without the need to test the population as a whole.

However, it does not permit conclusions as to the absolute accuracy of a population. Sampling risk is the risk that the sample will not be representative of the population as a whole. Sampling may increase the need for the use of subjective judgement in assessing the characteristics of the population as a whole, particularly if non-statistical methods are used. Sampling can be used where the risk of error in a population is other than low, but sample sizes may be large as a result. The tolerable misstatement and tolerable deviation rates used by external and internal auditors will be different where the objectives of testing are different. For external auditors, the objective will relate to the truth and fairness of the financial statements. For internal auditors, objectives are likely to relate to the operational adequacy of particular systems for particular purposes.