What are the types of sampling? What is the difference between test of details and substantive analytical procedures?

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Types of sampling include random, systematic, stratified, and cluster. Test of details involves examining individual transactions while substantive analytical procedures involve analyzing trends and ratios.

Random sampling involves selecting items randomly from the population.
Systematic sampling involves selecting items at regular intervals.
Stratified sampling involves dividing the population into subgroups and selecting items from each subgroup.
Cluster sampling involves selecting groups of items that are geographically or otherwise clustered together.
Test of details involves examining individual transactions to detect errors or fraud.
Substantive analytical procedures involve analyzing trends and ratios to detect unusual fluctuations or patterns.
Test of details is more effective for detecting errors or fraud in individual transactions.
Substantive analytical procedures are more effective for detecting overall trends or patterns in the data.
Both types of sampling and procedures are important for conducting a thorough audit.

What are the types of sampling? What is the difference between test of details and substantive analytical procedures?

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