How it works

This sampling methodology gives the user the option to select a sample based on the value of the transaction being above a materiality figure.

To select samples, simply follow these steps:

Step 1

In the Analysing and Sampling group, click on Sampling Tool and click on ‘Material Only’.

A new pop-up window will appear.

Step 2

Check that the Population range is correct and confirm if the first row of the population should be considered as headers.
 
Click below to view the Sampling Range Detector Guidance Page. 

Step 3

Use the transaction column dropdown, to select the appropriate transaction heading/column.

Step 4

Enter the materiality value to be used.

Step 5

To further stratify your population or include all material items over and above the sample size. 

Click below to view the Sampling Advance Section Guidance Page. 

Step 6

Select whether you would like the selected items to be highlighted in the original dataset

Also select whether you would like the resulting sample to be emailed?

If  email is selected, upon completion of executing the sample selection, a new email will be populated containing the sample ready to be sent to whomever.

Step 7

Click Continue to execute the function. 

Step 8

The sample will be selected and populated into a new sheet in the active workbook along with the following information related to the sample selection displayed above it.

General Info:

  • Performed by sign off,
  • The methodology used, i.e. Material Only,
  • The materiality value selected,
  • The transaction column/heading used,
  • Population size,
  • Population value,
  • Coverage Obtained.

Advanced Section Info:

  • If applicable, the materiality value used for selecting material items
  • If applicable, the values that have been excluded
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