Audit Session 8

Definition of Audit Sampling

What does Sampling not apply to…..

Define Sampling risk and Non-sampling risk. How is non-sampling risk caused?

What is Statistical sampling and non-satistical sampling

Define the Sample Selection Methods, and their approaches for each method.

Explain Simple Random Selection

Explain Systematic Sampling

Explain Probability-Proportionate to Size (PPS)

Explain Direct Selection, With an example

Auditors pick items that look odd or require special attention

Explain Block Selection

When checking if a business process works well over a specific timeframe, rather than testing the whole year.

Explain Haphazard Sampling

Explain Stratified Selection

Explain how to deterimine sample size - inputs

Explain how to evaluate results with quantitative assesments