(a) Sampling methods
Methods of sampling in accordance with ISA 530 Audit Sampling and Other Means of Testing:
Random selection. Ensures each item in a population has an equal chance of selection, for example by using random number tables.
Systematic selection. In which a number of sampling units in the population is divided by the sample size to give a sampling interval.
Haphazard selection. The auditor selects the sample without following a structured technique – the auditor would avoid any conscious bias or predictability.
Sequence or block. Involves selecting a block(s) of continguous items from within a population.
Tutorial note: Other methods of sampling are as follows:
Monetary Unit Sampling. This selection method ensures that each individual $1 in the population has an equal chance of being selected.
Judgemental sampling. Selecting items based on the skill and judgement of the auditor.
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