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Judgmental Sampling
The Judgement sampling is where, auditor using his own experience and awareness of the client's business and situations selects the sample to be tested with no use of any mathematical or statistical equipments. Statistical sampling is the drawing of inferences around a large volume of data by an inspection of a sample using statistical techniques in its selection.The benefits of judgment sampling:
Its disadvantages are:
Judgement sampling is yet the preferred technique by the majority of auditors and this is defended on the grounds which the auditor is weighing numerous pieces of evidence and is investigating many things at similar time that the entire procedure is too complex to be reduced to easy formulas.
Communication: Whenever the auditor recognizes a misstatement resultant from fraud, or a suspected fraud, or error, the auditor must consider the auditor’s duty to communicate
Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org
how EDP audit is carried out
Q. What is ordinarily the first step in the formation of a corporation? a. Development of by-laws for the corporation b. Issuance of the corporate charter c. Application for incorp
In planning the audit work of the Ministry, the audit staff member collected these details relating to the construction of an office complex. 1. In September 1994, the Ministry
Statutory Audits The audits are compulsory below statute in the case of a large amount of number of undertakings involving the following as: Undert
factors that influence auditors judgement on sufficiency of audit evidence
Basic Elements of a Management Representation Letter Whenever requesting a management representation letter, such the auditor would request which it be addressed to the audi
Tangible Non Current Assets The verification approach is fundamentally similar in each of these. Extensive disclosure is utilized in most countries and IAS 16 Property Equipm
Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.
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