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This exposure draft is a proposed Audit Guide entitled Audit Sampling. The proposed guide is important to all CPAs who do audits. It provides guidance to the auditor for implementing Statement on Auditing Standards no. 39, Audit Sampling. SAS no. 39 applies to all audit sampling — both statistical and nonstatistical. This proposed guide provides guidance to assist auditors using either approach in applying SAS no. 39. The guide is organized so that essentially all the guidance relating solely to statistical sampling is located beginning with Chapter 3, section 3. As a result, if an auditor is using this guide to assist him in applying nonstatistical sampling, the auditor would ordinarily follow the guidance in Chapters 1, 2, and 3 (sections 1 and 2). The audit guide is organized as follows: 1. The introduction to the guide describes the scope of the audit guide and provides guidance on the type of audit procedures covered by SAS no. 39 and this guide. 2. Chapter 1 provides an overview of the relationship of audit sampling to the audit process. 3. Chapter 2 provides guidance on the use of audit sampling for tests of compliance with prescribed internal accounting control procedures. This guidance applies to both nonstatistical and statistical sampling except where noted. 4. Chapter 3 provides guidance on the use of audit sampling for substantive tests of details. Chapter 3 is divided into four sections. Section one provides general guidance that applies to both nonstatistical and statistical sampling. Section 2 provides guidance for nonstatistical sampling applications for substantive tests. Two types of statistical sampling approaches for substantive tests are described in sections 3 and 4. Sections 2, 3, and 4 each include a case study illustrating the application of the guidance in the respective section. 5. The guide includes several appendices. Appendices A through E are primarily useful in applying certain statistical sampling approaches. Appendix F provides further guidance on the use of the risk model included in the appendix to SAS no. 39. Appendices G and H are a glossary and selected bibliography of further readings, respectively. Neither SAS no. 39 nor this guide requires the auditor using nonstatistical sampling to compare the sample size for the nonstatistical sampling application to a corresponding sample size calculated using statistical theory. However, the guide provides several quantitative illustrations of sample sizes based on statistical theory that should be helpful to an auditor applying professional judgment and experience in considering the effect of various planning considerations on sample size.



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Auditing -- Statistical methods -- Standards -- United States; Sampling (Statistics)


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 1982, Mar. 1

Proposed audit guide : audit sampling;Audit sampling



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