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
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definition on communication]. Communication is very important in our daily lives as well as in workplace. Communication also plays a vital role in businesses. Business communication needs to be well-organized and professional. As all other types of communications‚ business communication also can be either verbal or non-verbal or could be a combination of both. Written communication and oral communication are examples of verbal communication. To compose effective written or oral messages‚ you must apply certain
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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
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Why international business is important for Thailand? Nowadays international business has played an important role in globalization. Many countries are interested in international business and try to push their companies to become international businesses. Why many countries interested in international business? The simplest answer is that they want to enlarge their market to other countries. They also get lot of benefits such as avoiding transport cost‚ seeking the lowest cost and escape trade
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: Effective Communication in Business The communication process involves several stages. These stages are described as the sender‚ encoding‚ transmission decoding‚ the receiver‚ feedback and the noise. The sender is the person who originates the communication and he may be an individual person‚ the group of people or an institution who will prepare the message. The prepared messages are encoded and is sent to the transmission equipment. The messages to be send is transform into a form of
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who shoot straight. When they are happy‚ you know it. When they are angry‚ they let you know." Success of any business lies in effective communication. The more effective the communication is‚ the better the results are. Communication is effective when it produces desired action in the reader or audience. You should be straight forward and sincere while communicating in a business environment. If you are not honest and direct when communicating to others there is a greater chance that you may
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Why is strategic management important to a corporation? For many years‚ businesses have been failing and this failure has been attributed to the inability of managers to strategically manage business processes and operations. As a result of these failures‚ more business managers are paying keen attention to strategic management because of its importance to the continuity of a business. Strategic management is a strategy that is focused on long-term planning within an organization that takes into
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economics that studies application of principles of economics to various business situations. A Business organization is essentially a group of people who have come together for attaining certain common objectives. These objectives are largely material in nature – eg. profits‚ salaries‚ production for the purpose of consumption‚ etc. The behavior of this group of people is therefore a subject matter of study for economics. A Business Manager is responsible for leading this group of people in the direction
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Sampling and Measures of Central Tendency and Dispersion Introduction: Overall Job Satisfaction (OJS) was the variable selected for this exercise because it lends itself to measures of central tendency and dispersion. The data are quantitative and continuous in nature. Data Selected: The instructions for the exercise suggested a sample of approximately 30 individuals from one of eight variables. There were 288 measures of OJS. Every ninth individual was selected resulting in thirty-two
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Is business ethics important? If so why? Before we discuss the importance of ethics in business‚ it is very essential to examine a prominent theory when conducting business ethics and that is utilitarianism. This theory accounts for the concepts of duty or obligation‚ rights‚ and justice. It is routine that the utilitarianism theory is divided up into two groups. These two groups are that of teleological and deontological theory. The teleological approach deals with consequences. “It states that
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