TWSA530 Audit Sampling 　 　 　

Status

Issued by Auditing and Assurance Standards Committee in Taiwan on 4 February, 2025.

Summary

This Standard applies when the auditor has decided to use audit sampling in performing audit procedures. It deals with the auditor’s use of statistical and non-statistical sampling when designing and selecting the audit sample, performing tests of controls and tests of details, and evaluating the results from the sample.

This standard mainly required the following:

(a) When designing an audit sample, the auditor shall consider the purpose of the audit procedure and the characteristics of the population from which the sample will be drawn.

(b) The auditor shall determine a sample size sufficient to reduce sampling risk to an acceptably low level.

(c) The auditor shall select items for the sample in such a way that each sampling unit in the population has a chance of selection.

(d) The auditor shall perform audit procedures, appropriate to the purpose, on each item selected.

(e) The auditor shall investigate the nature and cause of any deviations or misstatements identified, and evaluate their possible effect on the purpose of the audit procedure and on other areas of the audit.

(f) For tests of details, the auditor shall project misstatements found in the sample to the population.

(g) The auditor shall evaluate:

      (1) The results of the sample; and

      (2) Whether the use of audit sampling has provided a reasonable basis for conclusions about the
            population that has been tested.

Effective date

This Standard is effective from 1 April, 2025.