Audit sampling, Auditing

Assignment Help:

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

Related Discussions:- Audit sampling

Auding , What are the are the advantages and disadvantages of auditing an I...

What are the are the advantages and disadvantages of auditing an IT firm

Proxy, if a proxy is voted as per his judgement other than member prescribe...

if a proxy is voted as per his judgement other than member prescribed to him... what is the action to be taken?

Ownership and existence - verification procedures, Ownership and Existence ...

Ownership and Existence - Verification Procedures Establishment of title and beneficial ownership of investments is not convincingly possible. Conversely, evidence is obtainab

Business management, B. For the one activity/process you ranked the most si...

B. For the one activity/process you ranked the most significant, identify and evaluate four risks. a. Two of the risk should be high to medium significance, and at least one shoul

Tell me how to do an internal audit efficiently, With internal audit we alw...

With internal audit we always require to be careful of any manipulations within the company itself. Errors and frauds within the company cannot be denied /overlooked at any cost.

Historic costs methods - long term contracts, Historic Costs Methods - Long...

Historic Costs Methods - Long Term Contracts You will notice such this exercise is completely dependent on the company estimating its further costs.  This is wherever the audi

Conformity and conservatism - external auditor report, Conformity and Conse...

Conformity and Conservatism - External Auditor Report Conformity Although the user of the accounts expects the accounts to conform to general accepted accounting princi

Difference between internal audit and statutory audit, An internal audit is...

An internal audit is one which is conduct by the internal auditors of the company. It is not mandatory for the company and the company just conducts it to keep a check on the opera

Meaning of the auditing definition, Meaning of the auditing definition a)...

Meaning of the auditing definition a) Orderly and efficient manner: An organization which is run in an orderly and proficient manner is able to satisfy the requirements o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd