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Sample selection

When selecting a sampling approach there are two approaches to audit sampling: non-statistical and statistical approach. Three ways that statistical sampling can assist the auditor are: to maximize the productivity with minimum wasted effort in designing the sample, to measure the sufficiency of the evidence taken during the audit, and to analyze the results. The statistical approach allows the auditor to measure the risk that is being sampled to help in reducing it to an acceptable level. With respect to performing samples, statistical sampling involves different kinds of costs such as training the auditors, designing individual samples to meet the requirements, and choosing the items to be examined. If there is insufficient audit evidence it is the responsibility of the auditor to choose between non statistical or the statistical sampling approaches considering their effectiveness and related costs.