AUDIT SAMPLING IS USED ON AMOUNTS THAT ARE NOT EXACT

COST EFFECTIVENESS- SOME AMOUNT ARE INEFFICIENT, CHECK THE RELATIVITY OF EVERY AMOUNT

LESS THAN 100% OF POPULATION LANG DAPAT, MAKOKONSIDER PA RN

POPULATION -DIPENDE IF ANO ANG PIPILIIN NI AUDITOR

SUBSTANTIVE - AMOUNTS

TEST OF CONTROL – EXISTENCE OF THE TRANSACTION ITSELF EX.: MONTHS

- LAST SALE INVOICE NA GINAMIT LAST YR

WHEN AUDITING, EXCELL IS ALWAYS USED

SAMPLING RISK – WRONG JUDGEMENT, KASI NAGASSUME KA NG WALANG ENOUGH NA PAGAARAL

10 FRIENDS, 4 OF THEM ARE HYPER, KUNG HYPER AND 4, PATI NA RIN ANG 6

WHAT OBSERVATION YOU HAVE WILL BE THE GENERAL IMPLICATION ON THE WHOLE
POPULATION=THIS WILL RESULT TO SAMPLING RISK.

ALPHA RISK - AYUS LANG PERO IN REALITY IT’S NOT

RESULTING TO SAPLE SELECTION, THERE IS AN ELEMENT OF RANDOMNESS

TINUTUMBOK NITO ANG AUDIT EFFECTIVENESS

INCORRECT ACCEPTANCE

BETA RISK – CONTRARY TO ALPHA RISK

POPULATION IS NOT GOOD, BUT IN REALITY IT IS OKAY PALA

INCORRECT REJECTION

AUDIT DEFFICIENCY

NON-SAMPLING RISK

ANOMALY - NOT TOTALLY AN EXCEPTION, IT IS RARE, NEEDED FURTHER AUDIT PROCEDURE, A GOOD
QUALITY OF AUDITING

SAMPLING UNIT – SINGLE UNIT WHICH CONSISTS OF CERTAIN POPULATION

STATISTICAL SAMPLING – PROB. AND STAT. THEORY

STRATIFICATION – REDUCING AMOUNBT OF SAMPLE SIZE, MARAMI KSING MASESELECT

NAKASPLIT NA KASI UNG RISKY AND NOT RISKY

03.25.21 THURSDAY