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Hello sir, I have a question about audit sampling.
If auditor use audit sampling in TOC and found control deviations, he should evaluate the results.
what does this line mean?
‘ For Test of Control, no explicit projection of errors is necessary because the sample deviation rate is also the projected deviation rate for the population as a whole’meaning projected deviation rate = sample deviation rate.
Could you please explain to me using examples? I don’t really get it. I got it for SP because we look at monetary error. Thank u sir!
For ToC answer is Y/N did a control operate. Let’s say for a particular audit test on a sample of 60 items there was one deviation (“N”) – that’s 1.7% of the sample. The “projection” of that to the population is therefore 1.7% also.
oo, but why is it like that? what if deviation also exist in other sample that is not tested?
btw, that was a quick reply!!
That’s sampling risk! – see page 56 of the notes – remember an audit cannot given 100% assurance – only reasonable assurance.
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