Audit Sampling Disclaimer
The information provided herein is intended for general guidance and informational purposes only. It is important to note that auditing is commonly conducted using sampling techniques. Auditing, by its nature, involves selecting and examining a representative subset of data, transactions, or processes, rather than reviewing the entire population.
While auditors strive to obtain sufficient and appropriate evidence to form an opinion, sampling is an inherent and accepted part of the auditing process. The selection of samples is based on professional judgment and risk assessment to provide reasonable assurance on the reliability of information, data, internal controls, or other audited areas.
It is essential to recognize that the audit opinion is based on the results of the sample selected and tested, and there is an inherent risk that the sample may not be fully representative of the entire population. Consequently, there is a possibility that errors, omissions, or irregularities may exist in the items not selected for review.
Therefore, the audit findings, conclusions, and recommendations should be interpreted in light of the sampling nature of the audit process. While auditors make reasonable efforts to uncover material misstatements or significant deficiencies, the absence of such findings in the sample tested does not guarantee their absence in the population as a whole.
This disclaimer serves to emphasize that the conclusions drawn from an audit should not be solely reliant on the results of sampling, but rather, should be considered in conjunction with other relevant factors, such as professional judgment, auditor expertise, and the limitations inherent in the auditing process.
Hence, it is advisable to seek professional advice tailored to specific circumstances and objectives when interpreting or relying upon the results of an audit, as auditing is not a guarantee of the absence of errors or irregularities in the entire population.