Audit Sampling

Auditing Theory: Concept and Practice Tutorial Series covers the necessary skill and knowledge that will help in passing the CPA Licensure Exam and information that will guide auditors in performing auditing and related services.

This video aims to help the viewers understand and review the concept and steps of audit sampling.

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Contents:
0:00 - Start
0:50 - Definition of Audit Sampling
4:40 - Rationale for Audit Sampling
8:26 - Objectives of Audit Sampling
11:33 - Risks Associated with Sampling
14:40 - Two Types of Sampling Risk
21:56 - Controlling Sampling and Non-Sampling Risks
24:20 - Basic Steps in Sampling
27:41 - Defining the Population
29:59 - Stratification and Value-Weighted Selection
35:10 - Sampling Approaches
37:56 - Statistical vs Non-Statistical Approach
43:35 - Determining the Sample Size
53:04 - Sample Selection Methods
1:00:45 - Testing the Sample Items
1:02:46 - Evaluating the Results
1:07:10 - Attribute Sampling
1:13:00 - Other Statistical Attribute Sampling
1:15:53 - Classical Variables Sampling
1:23:00 - Monetary Unit Sampling
1:30:25 - Classical Variables vs Monetary Unit Sampling


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