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PRAKASH MATUPALLIPRAKASH MATUPALLI asked 6 months ago

Sir 
While performing audit if we verify transactions on the basis of sample using some sampling Techniques, what percentage of Sample (out of 100%) is always preferable so as to keep the audit risk at a low level. is there any Benchmark percentage which is prescribed by standard ??? Example out of 100 transactions if we select 10 transactions the percentage of sample will be 10% will this 10% be acceptable or do we need to select more transactions…

1 Answers
RaviRavi Staff answered 6 months ago

SAs dont specify any percentage
it is matter of professional judgement 
depends on number of factors as discussed in sa 530
some people as thumb rule consider checking 10% of items

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