Основне одреднице ревизијског узорковања са освртом на праксу у Републици Српској
Basic determinants of audit sampling with overview on practice in Republic of Srpska

Summary/Abstract: In first stages of development of the auditing profession it was not unusual for the auditor to review nearly entire accounting records of the audited company. However, with companies’ growth, both in size and in complexity, it became cost-inefficient to assess the complete documentation. Audit of financial reports in large companies, with huge number of transactions, would not be possible if auditors attempted to check each and every transaction, amount and balance. Even in case that such attempt was possible, described audit approach would certainly initiate the question regarding appropriateness of the audit, considering the fact that demanded information would not be available at desired time. Conversely, audit costs would be enormously increased, which would additionally intensify this issue. In these cases, auditor may select one sample of items or transactions that will be subject to auditing procedures, in which manner he/she can attain reasonable assurance on audited financial reports. Sampling is inevitably related to certain risks that auditor cannot eliminate, but may and must control. Furthermore, auditor should decide whether to apply statistical or non-statistical approach to sampling. International Auditing Standards, which are in use here, do not prefer either of these two approaches. It appears that implementation of sampling method by authorised auditors in Republic of Srpska is not at satisfactory level.

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