Audit sampling, Auditing

Audit Sampling

ISA 530 Audit Sampling and Other Selective Testing Procedures defines Audit sampling is the application of a compliance or substantive procedure to less than 100% of the items within an account balance or class of transactions such that all sampling units have a chance of selection. To enable the auditor to obtain and evaluate evidence of some characteristics of the balance or class and to form or assist in forming a conclusion concerning the population from which the sample is drawn.  

Two approaches to sampling in auditing there as:

  • Non statistical or judgement sampling
  • Statistical sampling
Posted Date: 1/24/2013 7:46:38 AM | Location : United States

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