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Statistical Sampling Essentials: Methods & Application

Understand statistical sampling methods and its application to draw valid conclusions about a population. Learn about types and advantages of statistical sampling and how it aids in auditing. Explore sampling vs non-sampling errors. Methods to measure errors. Steps in auditing with statistical sampling.

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Statistical Sampling Essentials: Methods & Application

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  1. Introduction to Statistical Sampling

  2. A sample is a group of units selected from larger group (the population). By studying the sample one hopes to draw valid conclusion about the population.It may be statistical or nonstatistical. What is a sample ?

  3. The essential features of statistical sampling are: 1) The sample units (or transactions) should have a known probability of selection. 2) The sample result should be evaluated mathematically, that is in accordance with probability theory. What is Statistical Sampling ? Comptroller & Auditor General of India

  4. The sample results are objective and defensible as it is free from any kind of bias. The method provides a means of advance estimate of sample size. The method provides an estimate of the sampling error. It can save time & money. Statistical samples may be combined and evaluated , even though accomplished by different auditors. Advantages of Statistical Sampling Comptroller & Auditor General of India

  5. In attribute sampling one selects the sampling unit randomly to estimate number of time an event occur in the population .It answer the question, How many ? In variable sampling one selects the sampling the sampling unit randomly to estimate population average or total.It answer the question, How much? Two broad categories of Statistical Sampling Comptroller & Auditor General of India

  6. Sampling error is generated due to failure of selecting the representative sample .It is measurable under statistical sampling . Non-sampling error is generated due to failure of measurement of true characteristic(s).Which may be due to, i) non-response ii) measurement error iii)fatigue & iv)others.which can be controlled my better training & management etc.There is no standard procedure to measure this error. Sampling vs. Non-sampling error Comptroller & Auditor General of India

  7. Simple Random Sampling Systematic Random Sampling Probability Proportional to Size Monetary Unit Sampling Stratified Sampling Cluster sampling Multistage Sampling Types of Statistical Sampling Comptroller & Auditor General of India

  8. Objective Population definition Degree of precision desired The Sampling Frame Selection of samples Preparation of Questionnaires/Data Format Audit of selected units. Recoding of audit observation in the prescribed data format Statistical evaluation of survey results Report writing The principal steps in auditing using statistical sampling : Comptroller & Auditor General of India

  9. Any Questions ?

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