Assessment of Audit Risk and Audit Sampling

The definition of the level of audit risk is the most complicated category of audit, which makes it possible to form a professional judgment of the auditor on the reliability of financial statements and the degree of quality of the judgment advanced. A specific feature of the audit is a sample survey, which the auditor applies in an audit to reduce the complexity of the audit. However, there are no specific recommendations on how to account for the additional share of risk in the overall audit risk associated with sampling. The purpose of this work is to collect and systematize data on the features of methods for assessing audit risk and audit sampling, as well as developing a methodology for assessing audit risk, taking into account the risk arising from the sampling and approbation of the methodology obtained using the example of PJSC Lukoil.