Audit sampling is the use of an audit procedure on a selection of the items within an account balance or class of transactions. The sampling method used should yield an equal probability that each unit in the sample could be selected. The intent behind doing so is to evaluate some aspect of the information. Audit sampling is needed when population sizes are large, since examining the entire population would be highly inefficient. You are required to discuss the steps that are followed when selecting an audit sample.
Internal control being one of the major determinants of an organization’s success requires the attention of every individual in an organization. A good internal
QUESTION 2
Audit sampling is the use of an
You are required to discuss the steps that are followed when selecting an audit sample.
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