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SAMPLING
- There are two sampling approaches that can be used by
the auditor to gather sufficient appropriate evidence.
1.) Statistical sampling
- Uses random based selection of sample.
- Uses the law of profitability to measure sampling risk
and Evaluate sample results.
2.) Non - statistical sampling
- that purely uses auditor judgment in estimating
sample risk, Determine sample size and Evaluating
sample results.
Joshua Allebas
Audit Sampling Plan
Refers to the procedures an auditor applies to
accomplish a sampling application
ATTRIBUTABLE SAMPLING
• Designed to test the rate of deviation from a
prescribed control procedure.
•The auditor’s concern is the occurrence rate of
deviations in the population.
*The risk of incorrect acceptance is the risk that
the sample supports the conclusion that the
account balances is not materially misstated( i.e.,
it is fairly stated) when , unknown to the auditor,
the account balance is materially misstated.
-The risk of incorrect acceptance affects the
effectiveness of the audit.
-The risk of incorrect rejection affects the
efficiency of the audit.