tailieunhanh - AU Section 350 Audit Sampling

The District paid another vendor $17,800 for meetings with state legislators, community outreach and activities related to the private company. We reviewed e-mails between this vendor and District personnel and governing members of the private company. We also examined the original contract scope of work, budget documents and business plan and conducted interviews with District staff and the vendor. We determined all activities billed to the District by this vendor were related to the private company. The program manager approved a personal services contract with this vendor that listed work. | Audit Sampling 511 AU Section 350 Audit Sampling Supersedes SAS No. 1 sections 320A and 320B. Source SAS No. 39 SAS No. 43 SAS No. 45 SAS No. 111. See section 9350 for interpretations of this section. Effective for periods ended on or after June 25 1983 unless otherwise indicated. .01 Audit sampling is the application of an audit procedure to less than 100 percent of the items within an account balance or class of transactions for the purpose of evaluating some characteristic of the balance or This section provides guidance for planning performing and evaluating audit samples. .02 The auditor often is aware of account balances and transactions that may be more likely to contain He considers this knowledge in planning his procedures including audit sampling. The auditor usually will have no special knowledge about other account balances and transactions that in his judgment will need to be tested to fulfill his audit objectives. Audit sampling is especially useful in these cases. .03 There are two general approaches to audit sampling nonstatistical and statistical. Both approaches require that the auditor use professional judgment in planning performing and evaluating a sample and in relating the audit evidence produced by the sample to other audit evidence when forming a conclusion about the related account balance or class of transactions. The guidance in this section applies equally to nonstatistical and statistical sampling. Revised March 2006 to reflect conforming changes necessary due to the issuance of Statement on Auditing Standards No. 105. .04 The third standard of field work states The auditor must obtain sufficient appropriate audit evidence by performing audit procedures to afford a reasonable basis for an opinion regarding the financial statements under audit. Either approach to audit sampling when properly applied can provide sufficient audit evidence. Revised March 2006 to reflect conforming changes necessary due to the .