Discover how attribute sampling enhances audit accuracy by evaluating internal controls and analyzing population traits, ...

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 ...

Publicly held companies, or private companies that apply for credit, must have routine audits of financial transactions conducted. Outside agencies, not affiliated with the company, perform these ...

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, ...

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 ...

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 ...