Explain the need of audit sampling in an audit of financial statements.

Need for Audit Sampling Audit Sampling is needed in an audit financial statements because Formalized audit sampling procedures offer innumerable benefits to all auditors. These include: Developing a consistent approach to audit areas; Providing a framework within which sufficient audit evidence is obtained; Forcing clarification of audit thinking in determining how the audit objectives will be met; Minimising the risk of over-auditing; and Facilitating more expeditious review of working papers.