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(Auditing Principles & Procedures) Explain the two types of Audit Sampling ? NO HAND WRITER PLZ,...

(Auditing Principles & Procedures)

Explain the two types of Audit Sampling ?

NO HAND WRITER PLZ, Thank you.

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Answer #1

The two types of Audit Sampling are:

1. Statistical Sampling :

Its characteristics are:

a. Random Selection of Sample Items.

b. Use of Probability Theory to Evaluate Sample results including measurement of Sampling Risk.

2. Non Statistical Sampling:

Its characteristics are:

a. Haphazard or other methods (other than Random ) of Selection of Samples  

b. Probability Theory is not used.

The Sample Selection Methods are:

1. Systematic Selection

2. Random Selection

3. Monetary Unit/ Stratified Selection

4. Haphazard Selection

5. Block/Cluster Selection

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