ISA 530 - AUDIT SAMPLING

 ISA 530 applies when the auditor has decided to use audit sampling in performing audit procedures. It deals with the auditor’s use of statistical and non-statistical sampling when designing and selecting the audit sample, performing tests of controls and tests of details, and evaluating the results from the sample.

The ISA defines the requirements relating to the sample design, size and selection of Items for testing, Performance of  Audit Procedures, investigation the nature and cause of any deviations or misstatements identified, projection of  misstatements and evaluation of the results of audit sampling.

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