Multifragmentation MF results from 1A GeV Au on C have been compared with the Copenhagen statistical multifragmentation model ͑SMM͒. The complete charge, mass, and momentum reconstruction of the Au projectile was used to identify high momentum ejectiles leaving an excited remnant of mass A, charge Z, and excitation energy E* which subsequently multifragments. Measurement of the magnitude and multiplicity ͑energy͒ dependence of the initial free volume and the breakup volume determines the variable volume parametrization of SMM. Very good agreement is obtained using SMM with the standard values of the SMM parameters. A large number of observables, including the fragment charge yield distributions, fragment multiplicity distributions, caloric curve, critical exponents, and the critical scaling function are explored in this comparison. The two stage structure of SMM is used to determine the effect of cooling of the primary hot fragments. Average fragment yields with Zу3 are essentially unaffected when the excitation energy is р7 MeV/nucleon. SMM studies suggest that the experimental critical exponents are largely unaffected by cooling and event mixing. The nature of the phase transition in SMM is studied as a function of the remnant mass and charge using the microcanonical equation of state. For light remnants Aр100, backbending is observed indicating negative specific heat, while for Aу170 the effective latent heat approaches zero. Thus for heavier systems this transition can be identified as a continuous thermal phase transition where a large nucleus breaks up into a number of smaller nuclei with only a minimal release of constituent nucleons. Zр2 particles are primarily emitted in the initial collision and after MF in the fragment deexcitation process.