Auditing - What is the Role of Sampling

The video tutorial discusses the importance of sampling in auditing, highlighting that it is often impractical to test all transactions due to time and cost constraints. It covers various sampling methods, including unrestricted random sampling, systematic random sampling, block selection, and haphazard selection. Additionally, it introduces monetary unit sampling (MUS), which focuses on high-dollar transactions using probability proportional to size techniques, allowing auditors to efficiently test riskier transactions.

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