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Value weighted selection and stratified sampling

Auditing

How can we differentiate stratified sampling and value weighted selection? In material it is given that stratified sampling can be done on the basis of monetary value similar as value weighted

Visruth Vichu

CA Inter

★ 890

24-Apr-24 14:36

Answers (1)

Value weighted , the population need not be heterogeneous. Even for similar population, we can use value weighted. Focusing on heigh value items more as we look for material misstatement: Stratification usually is for heterogenous population. Basically , the approach differs .