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520.10 Audit Sampling (Non-Statistical)
520.10 Audit Sampling (Non-Statistical)
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This form documents the basis to arrive at the samples used in the engagement using non- statistical sampling method.
A. Population Data
Answer or
# Description of factor or amount Comment and/or Ref.
Amount
A. Risk Assessment – Low or High
B. Reliance on Controls – Yes or No
C. Reliance on Analytical Procedures – Yes or No
Use the Audit Response Decision Tree to determine the following Assurance and Expansion factors.
D. Assurance Factor
E. Expansion Factor
$/£
G. Population
Population to sample
I.
(Population - Key Items)
J. Expected Error ○
i
K. Sample Size =
Sample size = (Population being subject to sampling × Assurance Factor) ÷ (Performance Materiality – (Expected Error ×
Expansion Factor))
or
K = (I x D) ÷ (F – (J × E))
C. Sample errors
D. Error Evaluation
Totals
(a) (b)
-
L. Error in Key Items (high value or unusual items)
However, as explained below, if the actual error exceeds tolerable misstatement, then the audit sampling procedure will not
have provided a reasonable basis for conclusions.
Tests of detail
Risk Assurance Assurance from
Materiality from Tests of Analytical Sampling
Assessment Controls Procedures JSSD testing
AF EF