Which form of audit focuses on random sampling of economic levels and procedures?

The correct answer pertains to the external audit, which is designed to provide an independent assessment of an organization’s financial statements and associated processes. This form of audit often utilizes random sampling methods to assess the various economic levels and procedures that impact financial reporting.

In the context of an external audit, auditors typically examine a subset of transactions or processes to form conclusions about the entire set. This is critical for verifying accuracy and ensuring compliance with regulatory standards, as well as providing stakeholders with confidence in the financial information presented.

The other audit types do not specifically focus on random sampling in the same way. For instance, focused audits examine particular areas or processes in detail, retrospectives analyze past events and records, while prospective audits evaluate future activities and projections rather than existing financial practices. Understanding these distinctions highlights why external audits, with their emphasis on random sampling and independent evaluation, are essential for providing a comprehensive review of economic activities and procedures.