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entire population. Consider these questions: What is the first step in the process of selecting a
sample? Are there occasions where the sample selected does not represent the entire
population?
Then, post on how auditors evaluate risk in relation to sample size. Do risks change depending on
the size of the sample? What happens when auditors find misstatements that are above the
expected deviation rate?
In normal sampling techniques the following is the 1st step to be is followed. (a)
Identification of the population which has to be sampled. In case of audit sampling the
basically very crucial as the whole of the conclusions are depending upon the input. The
The sample selected does not represent the entire population in case where the
material information is checked upon. They are either material transactions or material
receivables that are sometimes misstated. On the other hand material subsidiary
The size of a sample obligatory to give adequate audit substantiation depends on both
the objectives as well as the competence of the sample. For a specified objective, the
effectiveness of the sample transmits to its design; one sample is further proficient than
another if it can attain the equivalent objectives with a lesser sample size. On the whole,
If the expected deviation rate is incongruously high, the auditor will usually choose not
to carry out tests of controls. For tests of information, the auditor makes an appraisal of
the probable misstatement in the population. If the expected misstatement is high, all