Page 27 - PowerPoint Presentation

GENERAL PRINCILES OF AUDITING

AUIDIT SAMPLING (ISA 530)

• Generally audits are performed on a sample basis

because of time and resource constraints.

• ISA 530 – Audit Sampling requires that when

designing audit procedures, the auditor should

determine appropriate means for selecting items

for testing.

• NB – results of tests must be extrapolated over the

population as a whole.

• Statistical sampling will be more defendable than

non-statistical sampling when extrapolated.

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