Audit sampling is an investigative tool in which less than 100% of the total items within the population of items are selected to be audited. It is an auditing technique that provides supporting evidence that allows auditors to issue audit opinions without having to audit every single item and transaction. The primary time-saver is the Auditmetrics AI assistance feature that makes it possible to rapidly sample an account. As in polling, the business manager sets a margin of error and the system guides the process to the final sample. Included with the random sample is spreadsheet documentation of the validity of the sample and a working spreadsheet to record results. All spreadsheets are generated by the software. The process is like hooking up a monitoring system. Once a sample is derived, what is left to do is the analytic work with the aid of the "Power Series" books.Audit sampling is an investigative tool in which less than 100% of the total items within the population of items are selected to be audited. It is an auditing technique that provides supporting evidence that allows auditors to issue audit opinions without having to audit every single item and transaction. The primary time-saver is the Auditmetrics AI assistance feature that makes it possible to rapidly sample an account. As in polling, the business manager sets a margin of error and the system guides the process to the final sample. Included with the random sample is spreadsheet documentation of the validity of the sample and a working spreadsheet to record results. All spreadsheets are generated by the software. The process is like hooking up a monitoring system. Once a sample is derived, what is left to do is the analytic work with the aid of the "Power Series" books.
