When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Stratified mean-per-unit sampling is a key tool used by auditors. The popularity of this statistical procedure arises from its unique ability to produce trustworthy ...

Dollar-unit sampling is a popular method for sampling accounts by auditors. In this article, we analyze and compare two methods of obtaining dollar-unit samples, simple random sampling and sieve ...

The American Institute of CPAs has released "Audit Sampling," a newly updated audit guide containing the latest requirements and practices for auditors. Processing Content The institute has updated ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Scratch the surface of many audit plans and you’ll find predictable elements that someone bent on fraud can anticipate and foil. That’s why SAS no. 99, Consideration of Fraud in a Financial Statement ...