Application of the Sampling Selection Technique in Approaching Financial Audit

Victor Munteanu (), Monica Petruta Zamfir (Maaliky) () and Cristian Florian Florea ()

Academic Journal of Economic Studies, 2018, vol. 4, issue 1, 123-132

Abstract: t In his professional approach, the financial auditor has a wide range of working techniques, including selection techniques. They are applied depending on the nature of the information available to the financial auditor, the manner in which they are presented - paper or electronic format, and, last but not least, the time available. Several techniques are applied, successively or in parallel, to increase the safety of the expressed opinion and to provide the audit report with a solid basis of information. Sampling is used in the phase of control or clarification of the identified error. The main purpose is to corroborate or measure the degree of risk detected following a pertinent analysis. Since the auditor does not have time or means to thoroughly rebuild the information, the sampling technique can provide an effective response to the need for valorization.

Keywords: Financial audit; selection techniques; sampling; audit evidence; relevance of financial information; audit report (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2018
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