Audit Sampling Using Statistical Methods Presented By: Abhishek Agrawal AUDIT SAMPLING • Application of an audit procedure to less than 100% of the items in a population – Account balance – Class of transactions • Examination “on a test basis” • Key: Sample is intended to be representative of the population. APIPA 2009 2 SAMPLING RISK • Possibility that the sample is NOT representative of the population • As a result‚ auditor will reach WRONG conclusion • Decision errors – Type
Premium Sampling
Cluster Sampling Cluster sampling‚ also called block sampling. In cluster sampling‚ the population that is being sampled is divided into groups called clusters. Instead of these subgroups being homogeneous based on selected criteria as in stratified sampling‚ a cluster is as heterogeneous as possible to matching the population. A random sample is then taken from within one or more selected clusters. For example‚ if an organization has 30 small projects currently under development‚ an auditor looking
Premium Sampling
Statistical Sampling for Testing Control Procedures 1. Statistical Sampling for Testing Control Procedures 2. MULTIPLE CHOICE 3. 1. Auditors who prefer statistical sampling to non-statistical sampling may do so because statistical sampling helps the auditor 4. a. Measure the sufficiency of the evidential matter obtained. b. Eliminate subjectivity in the evaluation of sampling results. c. Reduce the level of tolerable error to a relatively low amount. d. Minimize the failure to detect a material misstatement
Free Sampling Sample size
Sampling and Data Collection Plan Name QNT/561 October 27‚ 2014 Instructor Introduction Royal Blue Airlines is a medium sized airline company offering flights throughout the United States‚ Mexico‚ Caribbean Islands‚ and Latin America. The company operates a fleet of Boeing 737 aircrafts and is in the process of replacing older ones with newer‚ state-of-the-art planes. These new planes are very expensive‚ so management wants to maximize passenger count. A study has been authorized to
Premium Sampling Research Scientific method
A convenience store chain attempts to be responsive and provide customers with what they need‚ when they need it‚ where they need it. - What are some different ways that a convenience store supply chain can be responsive? - What are some risks in each case? Answer: A supply chain could accurate its responsiveness if it is able to improve in these criteria: - Respond to wide ranges of quantities demanded - Meet short lead times - Handle a large variety of products - Build highly innovative
Premium Convenience store Supply chain management Management
Sciences Sampling and Populations Paper MTH/231 Life Sciences Sampling and Populations Paper The core of biostatistics consists of the definition of a population and sampling‚ as they are the indicators of the fundamental concepts that are essential to understanding the statistics of the life and health sciences. The idea that a sample is illustrative of a given population‚ since a sample is derived from a specific‚ yet larger pool of information seems factually representative. Random sampling aides
Premium Sample Sampling Scientific method
securities suit‚ they should only have to show that plaintiffs’claims of Scienter are untrue. 4. HealthSouth concealed the fraud by keeping the fraudulent transactions below $5‚000. What recommendation would you have to Ernst & Young to improve its sampling practices?
Premium Stratified sampling Sampling Cluster sampling
Single random sampling : a. Definition: Simple random sampling is the basic sampling technique where we select a group of subjects (a sample) for study from a larger group (a population). Each individual is chosen entirely by chance and each member of the population has an equal chance of being included in the sample. Every possible sample of a given size has the same chance of selection; i.e. each member of the population is equally likely to be chosen at any stage in the sampling process. b
Free Sampling Sample size Sample
(Mt. Hood Furniture—PPS sampling problem) You have been assigned the task of testing the accuracy of the final inventory compilation for Mt. Hood Furniture. You may assume that you have separately observed the inventory and that you are satisfied that the inventory was accurately counted. However‚ you need to test that quantities were accurately transcribed to the final accumulation and valuation of inventory and that the inventory is correctly priced and accumulated. The table beginning on
Premium Audit Financial audit Supply chain management terms
process with the four (4) colleges of the school. Table 1 Distribution of Respondents Instrument This study used the research-made questionnaire to gather data that could provide the needed information. Procedure Gathering Data Random sampling method was used in gathering the data. Students belong to the day and night programs were also considered to determine the appropriate sample size and a 5% margin of error was used. The sample was drawn
Premium Sampling Sample Sample size