Audit sampling - is the application of audit procedures to less than 100% of the content of articles account balances or transactions.At its formation, the auditor may select all (continuous sampling), specific or individual elements.Solid test in many cases, is not a rational and appropriate.Therefore, most of it is spent on private elements.
In determining the appropriate method of selection of items for the analysis of the auditor should properly assess its goal, the general population and the volume of the upcoming sample.
in the audit sample includes the following stages:
- definition method selection;
- scoping, obtaining samples;
- execution of the basic audit procedures with respect to the selected material;
- analysis of the results, their dissemination to the general population.
audit sampling begins with determining the area of accounting and specific tasks that need to be addressed on this site.Usually such purposes is to identify disorders that can affect the accuracy of reporting (financial, accounting).
checked the mandatory implementation of all control procedures, such as the accuracy of the source documents (contracts, invoices, bills, etc.), coordination with the management of all ongoing business operations, followed by expenditure on the purchase of tangible assets referred to in the documents.The auditor should establish the degree of timeliness and completeness of transactions in the financial and accounting reports.
General population - all documents or business transactions to be checked.Audit sampling is the basis for the analysis of the entire set of financial records.According to the results of this analysis in future audit opinion is formed.If the sample is made of the documents in the first half, and the findings will be disseminated, respectively, on the general set of documents for this period (and not for the entire fiscal year).
method by which the audit sampling is performed is determined by receiving stratification.It is understood as the process of breaking down the population in the sub-parts (subsets), which consist of elements which have the property of homogeneity (with common characteristics).
In determining the sample size, it is necessary to consider the risk acceptable level and the expected error.
risk sample indicates that the auditor's conclusion, based on it, may differ from that made on the basis of a full analysis of the total population.
permissible error is called the maximum possible data corruption in the population, expressed in monetary terms, which does not significantly distort reporting.The allowable size of the error is determined when planning the audit.
expected error is called the projected auditor, which must be present in the general population.
audit sample should be representative (representative), which means that every element of the population may be able to (equal probability) of being selected.
main methods are as follows: the random, indiscriminate and systematic selection.
Selective audit ends with a study of the analysis revealed when checking the deviations and their distribution in the general population.Absolutely representative sampling is practically impossible, there is always the likelihood that the results of actions carried out by a specialist, because the audit risk will be made wrong opinion.
