Summary Chapter 9 Sampling 1 Define sampling 2 What is the purpose of sampling in auditing 3 Risks are everywhere, even in sampling What are the risks (and description) in sampling 4 What type of sampling do auditors use Name two advantages and two disadvantages of each 5 Why is random sampling statistically unbiased 6 How do auditors select a random sample 7 Are there other sampling methods used by auditors Yes or NO If yes, what are they If no, how does this affect the audit 8 What type of sampling is this Number of Accounts Method of Selection Used Stratum Composition of Stratum 1 Accounts of $10,000 and over All accounts 2 Accounts of $5,000 to $9,999 99 50 accounts (random number generator) 3 Accounts of less than $5,000 30 accounts (random number generator)

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Summary Chapter 9 Sampling 1  Define sampling 2  What is the purpose of sampling in auditing  3  Risks are everywhere, even in sampling  What are the risks (and description) in sampling  4  What type of sampling do auditors use  Name two advantages and two disadvantages of each 5  Why is random sampling statistically unbiased  6  How do auditors select a random sample  7  Are there other sampling methods used by auditors  Yes or NO  If yes, what are they  If no, how does this affect the audit  8  What type of sampling is this  Number of Accounts Method of Selection Used Stratum Composition of Stratum 1 Accounts of $10,000 and over All accounts 2 Accounts of $5,000 to $9,999 99 50 accounts (random number generator) 3 Accounts of less than $5,000 30 accounts (random number generator)

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Summary-Chapter 9 Sampling 1. Define sampling 2. What is the purpose of sampling in auditing? 3. Risks are everywhere, even in sampling. What are the

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