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Article 1. These Standards are formulated in accordance with the "National General Auditing Standards of the People's Republic of China" for the purpose of regulating the audit sampling of auditors, improving audit efficiency, and guaranteeing the quality of audit work. Article 2. "Audit sampling" as mentioned in these Standards shall mean the audit methods by which the auditors select a certain number of samples from the pool of audit objects (hereinafter referred to as pool) for test, and infer the features of the pool according to the test result. Such audit methods include statistical sampling and non-statistical sampling. Article 3. Auditors shall make use of professional judgment to decide on whether to adopt the statistical sampling or non-statistical sampling method so as to obtain sufficient and adequate audit evidence. Article 4. Auditors may use the audit sampling method when making a conformity test or a substantive test. Article 5. Audit sampling shall not apply, as is the general rule, to the following circumstances: (1) Sampling for the purpose of checking the entirety of the pool; (2) The quantity of the pool of matters to be audited is relatively small; (3) A single sum of business amount is beyond the level of importance; (4) The acceptable inspection risks are too low or the extent of required audit guaranty is too high; (5) There is any particular risk or any other matter to be paid special attention to; (6) The use of an audit sample does not conform to the cost-benefit principle. Article 6. Auditors shall, when using an audit sampling method, maintain due occupational diligence, and take sampling risks into consideration. "Sampling risks" shall mean the possibility of inconsistency between the audit conclusion formed by the auditors according to the sample test result and the audit conclusion formed from the detailed audit on the pool. The sampling risks are in inverse proportion to the quantity of samples. The larger the quantity of samples is, the less the sampling risks are. Article 7. Auditors shall, when determining the scale of samples, take the following factors into consideration: (1) target of audit ; (2) pool and unit of sampling; (3) acceptable audit inspection risks; (4) tolerable error; (5) predicted errors of the pool. Article 8. Auditors shall, when determining a pool, guarantee the entirety and relevancy of the pool, eliminate particular and unusual matters from the pool, and conduct inspections separately. Article 9. The auditors shall practice stratified sampling to the pool composed of a number of levels of different features. Article 10. Auditors shall, when designing a sample, consider whether the sampling risks are lowered to the acceptable level. The less sampling risks acceptable to the auditors are, the larger quantity of needed samples is. The acceptable risks of sampling in the conformity test shall mean the evaluated level of control risks. The level of acceptable risks of sampling in a substantive test shall be the calculated level of inspection risks. Article 11. A tolerable error shall mean the maximum error of the pool that can be accepted by the auditors and for which the auditors believe the sampling result can reach the target of audit. The auditors shall, in light of the principle of audit importance, rationally determine the tolerable error. At the time of conformity test, the specific number of tolerable errors shall generally be indicated. While at the time of substantive test, the tolerable errors shall generally be indicated with a price, which shall not exceed the level of importance of the pool. Article 12. A predicted error of pool shall mean an advance estimation on the error made by the auditors on the pool. The auditors may usually determine the predicted errors of an audit object according to the previous audits, the changes of the operation and management environment of the entity subject to audit, the appraisal of internal control, and the result of analytical review, etc. Article 13. The auditors may calculate the quantity of needed samples by making use of statistical formulas or by other means. Article 14. The auditors shall, when selecting samples, fully consider the representability of the samples, and ensure that all the sampling unit in the pool have equal opportunities of selection. A sampling unit may be a unit of money, a unit of physical object or any other unit. Article 15. Auditors may select samples in a statistical sampling method, by professional judgment, or in a non-statistical sampling method. Article 16. The auditors may adopt the following ways when selecting samples in a statistical sampling method: (1) Random sampling, i.e. selecting samples from the pool or all items within each level according to random rules; (2) Systematic sampling, i.e. calculating the sampling intervals according to the quantity of pools and the scale of samples needed, then randomly determine the starting point of the sampling, and finally select samples by intervals and in good order. Article 17. Where, due to the features of a pool, the statistical sampling method is not suitable, or the statistical sampling will lower efficiency, the auditors shall adopt the non-statistical sampling method. Article 18. The auditors shall, according to the target of test, adopt a suitable audit method to the selected samples. Article 19. Where the auditors find in their audit that the selected samples are not suitable, they shall select substitutive samples for the audit. The auditors shall not accept or reject the samples at their subjective will after selecting the samples in the designed method, but shall guarantee the authenticity of the samples. Article 20. Where the substantive examination are unable to be made on a sample drawn by the auditors, or such a sample cannot be audited in a way of substitutive audit, it shall be deemed as an error. Article 21. The auditors shall, after implementing necessary audit on a sample, appraise the sampling result pursuant to the following procedures: (1) Analyzing the error of the sample; (2) Inferring the error of the pool; (3) Re-evaluating the sampling risks; (4) Forming an audit conclusion on the audited matters. Article 22. The auditors shall, when analyzing the error of a sample, analyze the features of the error, the reasons for the formation of the error and the influences of the tested target to other matters to be audited on the basis of the conditions existing with the pre-determined error, as well as consider the direct influences of the error to the authenticity, legality and efficacy of the fiscal and financial revenues and expenditures. Article 23. With respect to the erroneous samples with common features, the auditors shall take them as an entirety, find out the reasons for the formation of the errors, and make a separate appraisal. Article 24. Auditors shall, on the basis of the error of the samples, adopt a suitable method to infer the error of the pool. Article 25. If the inferred error of the pool exceeds the tolerable error, and the re-evaluated sampling risks are not acceptable, the auditors shall increase the quantity of samples or adopt other audit inspection methods. Article 26. Auditors shall appraise the features of the pool according to the sampling result, and make a conclusion on the audited matters. Article 27. Auditors may not propose direct opinions on punishment or penalty regarding the error of the pool inferred from the sampling result, but shall make further examination on the specific matters under punishment or penalty so as to collect objective, relevant, sufficient and legal audit evidence. Article 28. The responsibility to interpret these Standards shall remain with the State Auditing Administration. Article 29. These Standards shall come into force on February 1, 2004. |
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