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In accordance with SA 530, an Auditor has to ensure a planned sampling process, consider factors that affect sample sizes for compliance and substantive tests, assess risks associated withsampling method used and evaluate the results generated by the use of the sampling process.
The Percentage Report dashboard in the Auditors' Edition provides a list of vouchers sampled along with the percentage of the sampling methods adopted for each of them.
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This report helps in the determination of the materiality of the sampled vouchers, how much further sampling is possible and by what sampling method.
Highlights:
• Total sample count (percentage)
• Track the usage of various sampling methods - sampling method-wise count
• Based on SA 530, decide on the:
• Number of data to be sampled
• Sampling method to be used
• Drill down to the list of transaction vouchers sampled using a specific sampling method
Benefits:
• Materiality of sampled vouchers
• Sample based report of audited vouchers
• A one-click feature giving a complete dashboard on sampling activity
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