All 18 Audit Sampling questions
More in Audit Sampling
What is audit sampling? What is sampling risk and non-sampling risk? What are common sample selection methods? What is a representative sample? How does the confidence level relate to sampling? What are the risks of over-reliance and under-reliance (for tests of controls)? What factors affect sample size? What is tolerable misstatement and tolerable rate of deviation? What is stratification and why is it used? How do you evaluate the results of a control test sample?
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What is the difference between statistical and non-statistical sampling?

Beginner

Answer

Statistical sampling uses random selection and probability theory to measure sampling risk and quantitatively project results, giving objective, defensible conclusions. Non-statistical (judgmental) sampling relies on the auditor's judgment for selection and size without measuring sampling risk mathematically. Both must yield representative samples; statistical adds measurability.
Real-world example The auditor uses statistical sampling to quantify the projected error and its precision, versus a judgmental pick for a small test.

Common follow-ups: What does statistical sampling let you measure? | Must non-statistical samples be representative?

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All 18 Audit Sampling questions