Audit & Assurance, Chapter 11

In this chapter, we look at the use of audit sampling and automated tools and techniques.

We will look in detail at audit sampling, which is an important aspect of the audit. We consider different types of audit sampling and the evaluation of errors.

Automated tools and techniques are an important tool in the audit, and we examine the two main types: audit software and test data. Use of computers on an audits is common practice. In answering questions on obtaining evidence, remember to include reference to automated tools and techniques if they seem relevant.

Your AA syllables does not require you to have a detailed knowledge of data analytics, but this is a topical area. The AA examing team has stated that candidates will only be expected to have a broad understanding of what data analytics is, how it may be used in an audit and how it may improve audit efficiency.

Both sampling and the use of automated tools and techniques could come up in OTQs in Section A or as part of Section B. Questions could require you to explain different sampling methods, for example.