# Audit Sampling Prepared by Murodullo Turdiyev. Group Hba-81i Learning Objectives

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Audit Sampling. Murodullo Turdiyev

## Statistical sampling defined

• Statistical sampling: any approach to sampling that has the following characteristics:
• Random sample selection
• Use of probability theory to evaluate sample results, including measurement of sampling risk.
• Major advantage of statistical sampling over non-statistical sampling methods is defensibility, thorough quantification of sampling risk.

## Non-statistical sampling

• Non-statistical sampling: sampling approaches that do not have all the characteristics of statistical sampling.
• Major advantage of non-statistical sampling is greater application of audit experience.
• The basic principles and essential procedures identified in ASA 530 (ISA 530) apply equally to both statistical and non-statistical sampling.

## Planning and designing the sample

• Auditor must consider:
• Objectives of the audit test (usually related to an audit assertion of interest)
• Population from which to sample
• Possible use of stratification
• Definition of the sampling unit.

## Defining the audit objective and population

• Once the audit objective is specified, such as reliance on controls or misstatement of account balance, the auditor must consider what conditions would constitute an error.
• The auditor must ensure that the population from which the sample is to be selected is complete and appropriate to the audit objective.

## Stratification

• Stratification: occurs when the auditor divides the population into a series of sub-populations, each of which has an identifying characteristic, such as dollar value.
• Can assist with audit efficiency as it allows the auditor to reduce the sample size by reducing variability, without increasing the sampling risk.
• Can direct auditor’s attention to areas of audit interest, especially risky or material items.

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