Question: In performing an audit, ISA 530 Audit Sampling applies when the auditor has decided to use sampling to obtain sufficient and appropriate audit evidence. Auditors

In performing an audit, ISA 530 Audit Sampling applies when the auditor has decided to use sampling to obtain sufficient and appropriate audit evidence. Auditors are also required to comply with ISA 230 and perform an overall review of the financial statements before they provide their audit opinion.

A. Explain Three (3) procedures an auditor should perform in conducting their overall review of the financial statements.

. Describe the components of the audit risk model.

C. Differentiate between the four (4) types of audit opinions.

D. Define what is meant by 'audit sampling' and explain the need for this.

E. Describe four (4) benefits of documenting audit work.

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