When using nonstatistical sampling, the auditor must subjectively consider whether the true population misstatement exceeds a tolerable amount. This is done by considering five factors

One factor is the difference between the point estimate and tolerable misstatement. State the other four factors the auditor must consider.
What will be an ideal response?

Other factors the auditor must consider are:
• The extent to which items in the population have been audited 100%.
• Whether misstatements tend to be offsetting or in only one direction.
• The amounts of individual misstatements.
• The sample size.