CAT / FIA FAU Syllabus D. Audit Evidence And Procedures - Statistical or non-statistical? - Notes ^{2 / 4}

A Random selection using generation of a random number and an interval size to select the items

Extrapolate the error rates e.g. (if half of the sample's wrong then half of the population is too)

Sample has to be sufficiently large to be representative of the population

Auditor can increase the sample size if errors are discovered

Any method which does not fit into the above is non-statistical sampling

Sometimes known as judgemental sampling