A New Audit Methodology for the Digital Era: Sampling

Sampling

Inflo’s Digital Audit methodology transforms the audit process. It takes a truly data-driven approach, while harnessing the power of digital workflow to achieve a more efficient and higher quality audit – yielding a vastly improved staff and client experience. In this series we outline some of the unique functionality utilized within the methodology and how it supports auditors.

In this article we cover the sampling approach within the digital audit methodology, covering entity risk, assertion level risk, controls, substantive analytical procedures, substantive audit data analytics, no sampling caps with a worked example.

Catch up on other articles in the audit methodology series:

• A New Audit Methodology for the Digital Era: Planning
• A New Audit Methodology for the Digital Era: Workprograms
• A New Audit Methodology for the Digital Era: Audit Data Analytics
• A New Audit Methodology for the Digital Era: Risk Assessment