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 ...

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 ...

Audit sampling techniques may permit errors or dishonesty to go undetected. Audit sampling occurs when a review of less than 100% of a population occurs. Determining how the size of a population is ...

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 ...

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 ...

WASHINGTON -- Aiming to target its audits better, the IRS intends a special random check this year of about 50,000 individual tax returns but will subject fewer people to the intense, face-to-face ...