Practice all cards Why do auditors generally use a sampling approach to evidence gathering? Auditors must balance the cost of the audit with the need for precision. Which of the following statements best describes a relationship between sample size and other elements of auditing? If materiality decreases, sample size will need to increase. Which of the following statements about the study of auditing is NOT true? The study of auditing focuses on learning the rules, techniques, and computations required to analyze financial statements. The basic purpose of a financial statement audit is to Provide assurance regarding whether the auditee's financial statements are fairly stated. Assurance services may improve all of the following except Periodicity. Evidence is reliable if it Signals the true state of a management assertion. Which of the following best describes the concept of audit risk? The risk that the auditor will provide an unqualified opinion on financial statements that are,