| Description |
1 online resource (183 pages) |
| Contents |
Cover; Half Title; Title Page; Copyright Page; Table of Contents; List of figures; List of tables; List of case studies; 1 Introduction; The people this book aims to help; The help on offer; Reading through and getting the most from this book; Recent developments; Conclusion; 2 Statistical and non-statistical approaches; Is there really a lot of difference between statistical and non-statistical?; Main approaches; Haphazard; Judgmental (selective); Equal interval (or systematic); Statistical; Conclusion; 3 Why bother to use statistical sampling?; Professional standards |
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Increasing the value of your auditTesting; Taking account of risk and materiality; Independence; Speed and efficiency; Making optimal use of information technology; Accountability and audit management; Potential pitfalls and disadvantages; The need for planning; Cost of investing in new skills; An unrealistic sense of security; Conclusion; 4 Theory, concepts and conditions; Probability; The normal distribution; Precision, confidence and point estimates; The reliability factor; The population; The population characteristic; Sampling units; Access to the sample (sampling frames); Errors |
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Random (or known chance) selectionConclusion; 5 Attribute sampling; Attribute sample size; Sampling interval; Case study 1: compliance testing during a stock system audit; Suggestions; Case study 2: compliance testing a purchases system; Conclusion; 6 An introduction to monetary unit sampling (MUS); Substantive or compliance testing and the role of MUS; The purpose and pitfalls of MUS; Sample size and sampling interval for MUS; Some initial precautions; Case study 3: external audit of year-end creditor's figure; Suggestions; Case study 4: the internal audit of a creditor's payment system |
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SuggestionsConclusion; 7 Monetary unit sampling -- taking account of errors; Two options; The safety margin and precision gap widening; The mechanics of extrapolation; Three main stages of MUS extrapolation; Case study 5: MUS with overpayment error; Case study 6: MUS overpayments extrapolated beyond MTEL; Case study 7: MUS with over- and underpayment error; Conclusion; 8 Risk models and the reduction of sample sizes; Risk of what?; A simple triangular relationship; Using 'nightmare' scenarios to identify key risks; Typical key control questions -- purchasing system; The total audit risk model |
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Case study 8: too much work!Case study 9: taking account of wider audit evidence; Suggestions; Conclusion; 9 Other sampling approaches; Acceptance sampling; Combined sample size for attribute and MUS; Variables sampling; Mean per unit sampling; Ratio estimation; Difference estimation; Conclusion; 10 Final concluding thoughts; How should I introduce statistical sampling to my audit?; Appendices; Appendix 1 Additional case studies; Appendix 2 Glossary; Appendix 3 Abbreviations; Appendix 4 SAS430; Appendix 5 Tables; Appendix 6 Further reading; Index |
| Notes |
Print version record |
| Subject |
Sampling (Statistics)
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Sampling (Statistics)
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| Form |
Electronic book
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| ISBN |
9781351898010 |
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1351898019 |
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