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A hands on approach to audit sampling techniques for Auditors

About Sampling

In auditing, sampling means applying testing procedures to less than 100% of the population and assess certain characteristics of the sample to support the audit conclusions

Non Statistical Sampling

Probably the most common audit sampling technique. The audit team selects a sample based on its professional judgement instead of applying a rigorous mathematical approach.

Statistical Samplings

It is a structured approach based on probabilistic calculations which allows the audit team to draw conclusion on the entire population on the basis of the examined sample

What this site makes avalaible to you

This website has been specifically designed for Internal Auditors and makes available the following tools.

  • Attribute Sampling - 4 different techniques:

    • Fixed-Size
    • Discovery
    • Stop-or-Go sampling
    • Estimation Sampling
    used to assess whether the rate of a particular error falls within an acceptable limit or to estimate the error rate present in the whole population.
    For each of the available taechniques the tool will compute the sample size, select the sample items using random or systematic sample selection, evaluate your sample and mathematically project the results to the whole population.

  • Monetary Unit Sampling:

    • used to test the accuracy of monetary value in Profit & Loss and General Ledger Accounts.
    This is a highly automated process. Upload your booking entries and the sampling tool will define the sample and propose the entries to be checked as well as project the results to the book account.
    As a bonus, you will also have access to a Materiality Calculator to establish when an error is large enough to impair the accuracy af your books.

  • Sampling Wizards:

    • Sampling Technique Wizard
    • Sample Selection Wizard
    • Sampling Process Wizard
    to help you selecting the sampling technique and sample selection approach which best suits your particular needs.
    The sampling Process Wizard will guide you through all the necessary steps to swiftly perform your sampling process.

  • Big Numbers Calculator:

    • overcome the standard computer limitation when dealing with large numbers. This calculator, rich with many mathematical and trigonometric functions, can deal with really HUGE numbers!

Use of the sampling tools is restricted to registered users. If you are interested, please file a request through the Contact Form.
Thank you for using this sampling site.