
Audit Sampling Prepared by Murodullo Turdiyev. Group Hba81i Learning Objectives

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 Audit Sampling. Murodullo Turdiyev  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 nonstatistical sampling methods is defensibility, thorough quantification of sampling risk.
Nonstatistical sampling  Nonstatistical sampling: sampling approaches that do not have all the characteristics of statistical sampling.
 Major advantage of nonstatistical 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 nonstatistical sampling.
 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 subpopulations, 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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