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Audit Sampling: An Introduction to Statistical Sampling in Auditing, 5th Edition



Audit Sampling: An Introduction to Statistical Sampling in Auditing, 5th Edition

Dan M. Guy, D. R. Carmichael, O. Ray Whittington

ISBN: 978-0-471-37590-6 November 2001 288 Pages


Written from the standpoint of internal and external auditors, the material is easily understood by an entry-level auditing student and can be used as a supplement to a basic auditing text. It is also appropriate for an advanced or graduate level auditing course. It is designed to reduce the gap between textbooks that give only introductory coverage to audit sampling and the basic level of professional knowledge that is required to cope with audit sampling applications in practice.

Related Resources

Overview of Audit Sampling.

Selecting a Representative Sample.

Attribute Sampling.

Using Variable Sampling for Accounting Estimation.

Using Variable Sampling for Audit Hypothesis Testing.

Probability-Proportional-To-Size Sampling.

Nonstatistical Audit Sampling.

Appendix A: Calculation Worksheets.

Appendix B: List of Equations.

Appendix C: SAS No. 39Audit Sampling (AU 350 As Amended).

Appendix D: Audit Sampling: Auditing Interpretations of Section 350.

  • Updated in area of new technology and techniques for testing controls
  • Updated to reflect the revisions of SAS No. 55 made by SAS No. 94.
  • Addition of significant discussion of setting materiality and relating that to tolorable misstatement, including a discussion of SAB 99

  • Updated to reflect changes in practice regarding use of nonstatistical sampling
  • New examples and cases added
  • Varied EOC materials (review, multiple - choice, cases)
  • Data sets for cases particularly appropriate for analysis using excel spreadsheet program (identified in text by floppy disk icon)
  • Useful from both an external and internal auditor standpoint