How it works
This sampling methodology gives us the opportunity to select a random sample, with or without seed values. Where a seed value allows the sample to be reperformed to produce the same results.
To select samples, simply follow these steps:
Step 1
In the Analysing and Sampling group, click on Sampling Tool and click on ‘Random’.
A new pop-up window will appear.
Step 2
Step 3
Step 4
If not using a seed value, skip this step.
Enter the seed value to be used. Use firm specific methodology to determine the seed value, otherwise any random number will work.
Step 5
Populate the number of items to be selected.
Step 6
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 7
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 8
Click Continue to execute the function.
Step 9
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. Random Sampling,
- The sample size selected,
- The seed value 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