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AICPA Audit Guides are developed and updated to provide discussion, guidance and tools for practitioners as they perform audit engagements.
The AICPA Audit Guide Audit Sampling, updated as of March 1, 2012, includes relevant guidance contained in applicable standards and other technical sources. The guide summarizes applicable requirements and practices, and delivers "how-to" advice to help auditors apply nonstatistical and statistical sampling in auditing. The guide includes case studies illustrating the use of different sampling methods, including classical variables sampling and monetary unit sampling, in real world situations. The appendixes include sampling tables and information about other testing considerations that practitioners encounter when using sampling techniques when performing audits, including sequential sampling for tests of controls and multilocation sampling considerations. All content is reviewed by subject matter experts and the appropriate AICPA senior committee(s). A subject index has been added to the Guide for ease of use.
This AICPA Audit Guide has been fully conformed to reflect the new standards resulting from the Clarity Project. Fully incorporating the clarified auditing standards into this year’s edition of the guide enables auditors to further their understanding of these recently issued auditing standards, as well as begin updating their audit methodologies, resources, and tools prior to the clarified auditing standards’ effective date. Additionally, this approach gives auditors the opportunity to review and understand the changes made by their third-party audit methodology and resource providers, if applicable. The clarified auditing standards are effective for audits of financial statements for periods ending on or after December 15, 2012 (calendar year 2012 audits). Auditors should continue to use the previous edition of this guide (2008 edition) until the clarified auditing standards become effective for the auditors’ engagements.
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