Audit Sampling
This query is : Resolved
21 June 2010
Sir,
for selecting samples there seems to be some logic However, i am not aware of that can anyone please tell me what is the logic/formula under which a sample be selected.
It may be for Cash vouching, bank, journal, purchase or any other else.
THANKS IN ADVANCE.
for selecting samples there seems to be some logic However, i am not aware of that can anyone please tell me what is the logic/formula under which a sample be selected.
It may be for Cash vouching, bank, journal, purchase or any other else.
THANKS IN ADVANCE.
Ravi Vasudev Sachdev
(Expert)
26 June 2010
There are many ways of selecting samples. Easiest way may be:
Total cash payments during the year (TOTAL)
And some percentage of that (let it be 0.5 or 1 %)
Then whatever amount comes to that %, below that amount let it go and that above %, vouch for that..
Total cash payments during the year (TOTAL)
And some percentage of that (let it be 0.5 or 1 %)
Then whatever amount comes to that %, below that amount let it go and that above %, vouch for that..
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