Does the Guide require auditors to use statistical sampling?
No, statistical sampling is not required. SAS 111, Amendment to Statement on Auditing Standards No. 39, Audit Sampling, states that non-statistical sampling would ordinarily “result in a sample size comparable to the sample size from an efficiently designed statistical sample, considering the same sampling parameters.” The Guide therefore provides information and guidance on using both methods of sampling. What does the Guide say about materiality? Previous versions of the Sampling Guide included an appendix to assist auditors in computing planning materiality using a standard table; this table is not included in the new Guide. This change conforms with the guidance set forth in SAS 107, Audit Risk and Materiality in Conducting an Audit, which emphasizes the need to consider the user of the financial statements in determining planning materiality. Auditors should recognize that the use of judgment is critical in determining planning materiality and that the result of that judgment shou
