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  • Audit Sampling

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    Halil HP
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    This document discusses audit sampling, including statistical sampling, non-statistical sampling, similarities and differences between the two approaches, and the application of sampling on audit tests. It explains that statistical sampling uses a probabilistic approach while non-statistical sampling uses judgment. Both involve planning the sample size, selecting items for testing, examining the items, and evaluating results. However, statistical sampling allows for objective, mathematically proven results while non-statistical sampling relies more on experience and common sense.

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    AUDIT SAMPLING

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    AUDIT SAMPLING

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    This document discusses audit sampling, including statistical sampling, non-statistical sampling, similarities and differences between the two approaches, and the application of sampling on audit tests. It explains that statistical sampling uses a probabilistic approach while non-statistical sampling uses judgment. Both involve planning the sample size, selecting items for testing, examining the items, and evaluating results. However, statistical sampling allows for objective, mathematically proven results while non-statistical sampling relies more on experience and common sense.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views36 pages

    Audit Sampling

    Uploaded by

    Halil HP
    This document discusses audit sampling, including statistical sampling, non-statistical sampling, similarities and differences between the two approaches, and the application of sampling on audit tests. It explains that statistical sampling uses a probabilistic approach while non-statistical sampling uses judgment. Both involve planning the sample size, selecting items for testing, examining the items, and evaluating results. However, statistical sampling allows for objective, mathematically proven results while non-statistical sampling relies more on experience and common sense.

    Copyright:

    © All Rights Reserved
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    of 36

    3.

    4 - AUDIT SAMPLING
    Audit Sampling

    2
    Audit Sampling

    3
    Audit Sampling

    4
    Sampling Risk

    5
    Sampling Risk

    6
    Non-sampling Risk

    *Non-sampling risk can never be a mathematical measured.


    However, to keep this risk to minimum level, proper planning and
    supervision and adhere to the quality control standards is essential.

    7
    Types of Sampling

    8
    STATISTICAL SAMPLING (PROBABILISTIC SAMPLING)
    Statistical sampling means any approach to sampling that
    has the following characteristics:

    9
    NON STATISTICAL SAMPLING
    (NON PROBABILISTIC OR JUDGMENTAL SAMPLING)

    10
    Statistical Sampling

    11
    Statistical Sampling

    12
    Statistical Sampling

    13
    Statistical Sampling

    14
    Statistical Sampling

    15
    Statistical Sampling

    16
    Non-statistical Sampling

    As discussed above, sampling approach that does not have


    above characteristic is considered non-statistical sampling

    17
    Non-statistical Sampling

    18
    Similarities- SA vs. NSA

    19
    Differences- SA vs. NSA
    STATISTICAL SAMPLING NON STATISTICAL SAMPLING
    Need to have knowledge on Base on experience and common
    statistical formula sense
    Objective results – samples are Subjective results – the sample
    mathematically proven to may not represent the population
    represent population

    Different auditor with the same Different auditor will have


    approach will give same answer different approach and as a result
    will give different answer

    It is an efficient method and can It is not an efficient method and


    delegate the responsibility to need more senior audit staff to
    select audit sample to lower rank devise the sample and select the
    audit staff sample
    Defensible in the court of law Not defensible in the court of law

    20
    Application of Sampling on Audit
    Tests
    Regardless of whether statistical or non statistical, the common
    steps of application of sampling on audit tests are:

    21
    Application of Sampling on Audit
    Tests

    22
    Application of Sampling on Audit
    Tests
    1) PLANNING THE SAMPLE
    - Involves the following steps:

    23
    Application of Sampling on Audit
    Tests
    1) PLANNING THE SAMPLE
    - Involves the following steps:

    24
    Application of Sampling on Audit
    Tests
    1) PLANNING THE SAMPLE
    - Involves the following steps:

    25
    Application of Sampling on Audit
    Tests
    1) PLANNING THE SAMPLE
    - Involves the following steps:

    26
    Application of Sampling on Audit
    Tests
    1) PLANNING THE SAMPLE
    - Involves the following steps:

    27
    Application of Sampling on Audit
    Tests

    28
    Application of Sampling on Audit
    Tests

    29
    Application of Sampling on Audit
    Tests

    30
    Application of Sampling on Audit
    Tests

    31
    Application of Sampling on Audit
    Tests

    32
    Application of Sampling on Audit
    Tests

    33
    Application of Sampling on Audit
    Tests

    34
    Application of Sampling on Audit
    Tests

    35
    Application of Sampling on Audit
    Tests

    36

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