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Microlesson · 5-min read

SA 500 / SA 530 – Selecting Items for Testing: 100% Examination, Specific Items, and Audit Sampling

## Selecting Items for Testing

When obtaining audit evidence, the auditor selects items using one of three approaches:

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### 1. Selecting All Items — 100% Examination

Appropriate when any of the following conditions apply:

ConditionRationale
Small populationFew items — 100% is practical
Items of large valueEach item is individually significant / material
Significant risks are involvedCannot afford to miss a misstatement
Other means do not provide SAAESampling would not give sufficient appropriate evidence
Repetitive nature of itemsAutomated checks make 100% examination cost-effective

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### 2. Selecting Specific Items

  • Auditor uses professional judgement to select particular items (e.g., all items above a threshold, unusual items, items prone to risk)
  • Results cannot be projected to the entire population — it is targeted, not representative

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### 3. Audit Sampling (SA 530)

  • Applied to large populations where 100% examination is impractical
  • Uses statistical or non-statistical sampling
  • Results from the sample are projected to draw conclusions about the entire population
  • (Full treatment under SA 530)

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### Decision Framework

```

Is the population small / high-value / high-risk?

→ Yes → 100% Examination

→ No → Is targeted selection sufficient?

→ Yes → Specific Item Selection

→ No → Audit Sampling (SA 530)

```

Worked example

### Example 1

An entity has 4 long-term borrowing accounts totalling ₹120 crore. The auditor selects all 4 (100% examination) — small population, each individually material.

### Example 2

An entity processes 1,50,000 vendor invoices annually. The auditor applies audit sampling (SA 530) to draw conclusions about the entire population without examining every invoice.

### Example 3

A payroll system automatically calculates HRA for all employees using the same formula. The auditor uses 100% recalculation (automated) since the procedure is repetitive and cost-effective to apply across all records.

### Example 4

An auditor selects all journal entries above ₹50 lakhs made in the last 5 days of the financial year for scrutiny — this is specific item selection (targeted, not projectable to all journal entries).

⚠️ Common exam mistakes

  • Defaulting to sampling even for small populations — 100% examination is often more efficient and reliable when the population is small
  • Confusing specific item selection with audit sampling — specific selection is targeted and its results cannot be projected to the population; sampling results can be projected
  • Assuming audit sampling always produces less reliable conclusions — a properly designed sample under SA 530 provides a valid basis for population-level conclusions
  • Overlooking the 'repetitive nature + automation' condition for 100% examination — technology now makes full-population testing feasible in many scenarios
Reference: SA 500; SA 530 — SA 500 – Audit Evidence; SA 530 – Audit Sampling (ICAI)
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