Sampling risk
Encyclopedia
In audit
Audit
The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.- Accounting...

ing, sampling is an inevitable means of testing. However, sampling is always associated with sampling risks which auditors have to control.

Sampling risk represents the possibility that auditor's conclusion based on a sample is different from that reached if the entire population
Population
A population is all the organisms that both belong to the same group or species and live in the same geographical area. The area that is used to define a sexual population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals...

 were subject to audit procedure. The auditor may conclude that material misstatements exist, in fact they do not; or material misstatements do not exist but in fact they do exist. Auditor can lower the sampling risk by increasing the sampling size
Sample size
Sample size determination is the act of choosing the number of observations to include in a statistical sample. The sample size is an important feature of any empirical study in which the goal is to make inferences about a population from a sample...

.

Non-sampling risk includes factors that cause auditors to reach a conclusion other than the sampling size. Misinterpretation
Interpreting
Language interpretation is the facilitating of oral or sign-language communication, either simultaneously or consecutively, between users of different languages...

 of evidence
Evidence
Evidence in its broadest sense includes everything that is used to determine or demonstrate the truth of an assertion. Giving or procuring evidence is the process of using those things that are either presumed to be true, or were themselves proven via evidence, to demonstrate an assertion's truth...

 and inappropriate procedures
Procedure (term)
A procedure is a sequence of actions or operations which have to be executed in the same manner in order to always obtain the same result under the same circumstances ....

are good examples. Changing of the sampling size would not reduce non-sampling risk.
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