Attribute Sampling–usedforcompliancetesting.YesorNo…Backups
andrestorationtestinaperiod.
VariableSampling–usedforsubstantivetesting.Howmuch,howlittle,
howgood…Creditaccountsover$1,000
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Sampling in Auditing: Attribute vs Variable, Evidence Collection and Reporting, Study notes of Auditing
An overview of sampling techniques used in auditing, including attribute and variable sampling, evidence collection, reporting, and follow-up. It also covers control self-assessment and evidence gathering techniques. The document emphasizes the importance of understanding when to apply each sampling method and the role of evidence in reaching reasonable conclusions.
Typology: Study notes
2021/2022
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Attribute Sampling – used for compliance testing. Yes or No… Backups and restoration test in a period. Variable Sampling – used for substantive testing. How much, how little, how good… Credit accounts over $1,
Notes:
Standards and Guidelines are found in ITAF 3 rd^ Edition. If you don’t have a copy by now you are strongly advised to get one. How to read them?
- Standards
- Get familiar with the standard Statements
- Do not overlook the Key Aspects section
- Guidelines
- The most helpful information is found after the introduction section of each guideline (section 2.0 Introduction)
Classification of Audits: Pay particular attention to the Forensic Audit section. While preservation and protection of evidence is important in any audit, (integrity, privacy,…) it is much more so with forensic audits. Chain‐of‐custody is also a delicate matter in these types of audits for any and all evidence you will use may be used to support a criminal investigation.
people realize the benefits of the controls they engage in their design and overall improvement. Unfortunately, we don’t always get buy‐in. People may perceive this shift of responsibilities as added work or a replacement of the audit function. But I think there are more benefits than drawbacks.
Other Notes :
- Review the evidence gathering techniques. You will find these in the Evidence section of the CISA Review Manual (section 1.6.11, page 55 in my book… 2013).
- Review the sampling techniques in the Sampling section of the review manual. Understand when to use. - For Attribute Sampling (Compliance Testing) - Attribute Sampling or Fixed Sample‐Size - Stop‐or‐go Sampling – to stop sampling at the earliest possible time - Discover Sampling – mostly used if you suspect fraud or illegal acts - For Variable Sampling (Substantive Testing) - Stratified mean per unit - Unstratified mean per unit - Difference estimation
Finally take a look at the Data Validation Edits and Controls table in Chapter 3 of the CISA Review Manual. It is Exhibit 3.29 on page 213 in my copy from last year. The table lists a set of IS Controls and their descriptions. Their names should be enough to understand what they are supposed to do. Don’t memorize them but get a general idea of what they do. They will become handy for the final.