Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

20AU-C 530 Audit Sampling

• Scope
• Definitions of Terms
• Objective of AU-C 530
• Overview
• Requirements
  • Examined 100%
  • Sample Selection
  • Stratification
  • Unexamined Sample Items
  • Sample Size: Substantive Test
  • Sample Size: Test of Controls
  • Projection of Misstatements
  • Aggregation of Misstatements
  • Qualitative Aspects
  • Relating Balance Sheet and Income Statement Sampling
• Nonsampling Techniques
  • Distinguishing Sampling from Other Audit Tests
• Nonstatistical Audit Sampling Techniques
  • Introduction
  • Methods of Sample Selection
  • Tests of Controls
  • Substantive Tests
• Statistical Audit Sampling Techniques
  • Introduction
  • Calculating Sample Size
  • Risk and Confidence in Substantive Tests of Details
  • Statistical Evaluation of a Sample in Substantive Tests of Details
  • Calculating Confidence Limits
  • Equal-Probability Sampling: Attributes Evaluation
  • Dollar Value Evaluation
  • Equal-Probability Sampling: Variables Evaluation

SCOPE

AU-C 530 offers guidance for using audit sampling when performing audit procedures. However, AU-C 530 is not just for statistical samplers. It applies equally to nonstatistical and statistical sampling. (AU-C 530.01) Either approach to audit sampling, when properly applied, can provide sufficient evidential matter. In addition, the Section establishes specific requirements essential for proper application.

DEFINITIONS OF TERMS

Source: AU-C 530.05. For definitions related to this standard, see Appendix A, “Definitions of Terms”: Audit sampling (sampling), Nonsampling risk, Population, ...