Sample Design – NBC Institute

AA – May 2018 – L2 – Q7 – Audit Sampling and Other Selective Testing Procedures

Discusses key factors in designing audit samples and compares statistical versus non-statistical sampling approaches.

Question

Auditors do not normally check 100% of transactions and balances that go into the production of financial statements. Auditors usually carry out a sampling test. ISA 530 distinguishes between statistical and non-statistical sampling approaches.

Required: a. Explain THREE key factors the auditor has to take into consideration in designing a sample. (6 Marks) b. Distinguish between statistical and non-statistical sampling approaches. (4 Marks) c. State TWO advantages and TWO disadvantages of statistical sampling approach. (5 Marks)

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Tags: Audit Sampling, Non-Statistical Sampling, Sample Design, Sampling Risk, Statistical Sampling
Level: Level 2

Topic: Audit Sampling and Other Selective Testing Procedures
Series: MAY 2018

Question Tag: Sample Design

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AA – May 2018 – L2 – Q7 – Audit Sampling and Other Selective Testing Procedures

Discusses key factors in designing audit samples and compares statistical versus non-statistical sampling approaches.

AA – May 2018 – L2 – Q7 – Audit Sampling and Other Selective Testing Procedures

Discusses key factors in designing audit samples and compares statistical versus non-statistical sampling approaches.

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AA – May 2018 – L2 – Q7 – Audit Sampling and Other Selective Testing Procedures

Discusses key factors in designing audit samples and compares statistical versus non-statistical sampling approaches.

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AA – May 2018 – L2 – Q7 – Audit Sampling and Other Selective Testing Procedures

Discusses key factors in designing audit samples and compares statistical versus non-statistical sampling approaches.

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