Sampling risk
Sampling risk is the risk that the auditor’s conclusion based on a sample may differ from the conclusion reached if the same procedure were applied to the entire population. It can lead to inappropriate reliance or unnecessary additional work. Sample design, size and evaluation affect the risk. In a control test, the sample can lead the auditor to rely on a control more than warranted or less than warranted. In a substantive test, the auditor can conclude that a material misstatement does not exist when it does, or identify an apparent problem that full testing would not confirm.
Worked example
A sample contains no exceptions although the full population includes enough errors to change the conclusion.
Common mistake
Sampling risk is distinct from errors in applying a procedure or interpreting results, which are non-sampling risks.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Supporting | September 2026–June 2027 |