Audit Sampling Characteristics

Audit Sampling Characteristics

Audit sampling characteristics may be explained in terms of less than 100% , equal chance of selection, projection about population, sampling risk,

1.    Less than 100%

In Audit sampling less than 100% population is examined. Audit sampling is fundamental for audit.

2.    Equal Chance of Selection

In audit sampling, each item must have equal chance of selection. It means audit sampling should be free from any biased.

3.    Conclusion about Population

Audit sampling results are projected to draw conclusion about population. Auditor form conclusion based on the result or audit evidence gathered from sampling. It means audit sampling results are projected to population.

4.    Sampling Risk

Audit sampling to risk of drawing wrong conclusion, it means that audit draw a conclusion based on sampling, which does not represent population. For example sampling suggests misstatement exist, but in fact it does not.