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Assume that the company you are auditing has processed 300 vouchers over a period of one...

Assume that the company you are auditing has processed 300 vouchers over a period of one year. Let us also assume you wanted to test a sample of 30 out of the 300 vouchers that were processed for the year. Describe the procedures that you will perform to select the 30 sample items.

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Answer #1

Sampling Audit: This type of auditing is called sampling Audit. when there is number of voucher is very large than this procedure will be follow.

In Sampling Audit we have to check the certain voucher randomly and some specific vouchers also check. Example from the total vouchers first and last voucher , Check the higher amounts vouchers , check the vouchers for recording the assets. and the remaining vouchers are randomly selected from the total vouchers of the company.

So it means for performing the sampling audit we have to check some vouchers with certain classification and some vouchers in random.

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