Building a sampling plan trustees will accept

A fund expense audit loses trust when the sample looks arbitrary. Before fieldwork, write down the population (every disbursement coded to Fund X between 1 April and 31 March), how items will be selected, and which attributes each item must pass.

Attributes that matter

Typical attributes for Hong Kong foundation funds include: cost eligible under the deed or donor letter; dual approval present when the threshold requires it; invoice or claim form attached; payee matches the approved vendor or staff member; and coding to the correct fund cost centre.

What to tell the board early

Share the planned sample size as a range tied to population size. If the listing is incomplete, say so in the plan rather than discovering it mid-test. Trustees prefer a smaller clean sample with clear limits over a large sample that quietly skips missing files.