Abstract:

 The paper substantiates the relevance of the issues related to obtaining reliable and sufficient audit evidence during application of selective procedures when financial statements of economic entities are audited. It is shown that in order to carry out the requirements of international standards on auditing (ISAs) and obtain proper audit evidence during sampling procedures, it is necessary to develop a number of methods (risk assessment, estimation of the predicted misstatements in the general population). A number of literature sources have been analyzed. They are somewhat inadequate and partially incompliant with the requirements of the ISA in terms of the information they contain. Methods have been developed for assessing the sampling risk and the risk of material misstatement using selective statistical and sample non-statistical procedures. An algorithm for applying selective procedures has been developed in the general case.