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Audit Sampling

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(Querist)
21 June 2010 Sir,

for selecting samples there seems to be some logic However, i am not aware of that can anyone please tell me what is the logic/formula under which a sample be selected.

It may be for Cash vouching, bank, journal, purchase or any other else.

THANKS IN ADVANCE.
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Ravi Vasudev Sachdev

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Ravi Vasudev Sachdev (Expert)
26 June 2010 There are many ways of selecting samples. Easiest way may be:
Total cash payments during the year (TOTAL)
And some percentage of that (let it be 0.5 or 1 %)
Then whatever amount comes to that %, below that amount let it go and that above %, vouch for that..
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