AU 350: Audit Sampling

AU-C 530: Audit Sampling


Original Pronouncements Statements on Auditing Standards (SASs) 39, 43, 45, and 111.
Effective Date These standards are now effective.
Applicability Audits of financial statements in accordance with generally accepted auditing standards (GAAS). The section applies to audit sampling, whether the sampling is statistical or nonstatistical (see Definitions and Objectives of Section).


SAS No. 122, Codification of Auditing Standards and Procedures, is effective for audits of financial statements with periods ending on or after December 15, 2012. AU-C 530 does not change extant requirements in any significant respect.


Audit sampling. The application of an audit procedure to less than 100% of the items within an account balance or class of transactions for the purpose of evaluating some characteristics of the balance or class.

Audit risk. The uncertainty inherent in applying audit procedures.

Dual-purpose sample. A sample designed (1) to assess control risk, and (2) to test whether the recorded monetary amount of transactions is correct.

Nonsampling risk. All aspects of audit risk that are not due to sampling (for example, selecting auditing procedures that do not achieve a specific objective, or failing to recognize misstatements).

Population. The items comprising the account balance or class of transactions.

Risk of incorrect acceptance. The risk that ...

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