Sampling error

Sampling error is the difference between the value derived for a population from using a sample and the actual value of the population. A large sampling error creates distortions in the sampling outcome, from which a user might draw incorrect conclusions. This error can be significant when an auditor does not select a sample that is representative of the entire population. The size of a sampling error can be minimized by increasing the size of the sample, as well as by selecting the sample at random from the population.

Related Courses

Guide to Audit Sampling
How to Conduct an Audit Engagement