Statistical sampling - advantages, Auditing

Assignment Help:

Statistical sampling - Advantages

A. It is defensible and scientific;

B. It gives a precise mathematical statement for probabilities of to be correct;

C. It is efficient over large samples are not in use;

D. It tends to source uniform standards among different auditing firms;

E. It can be used through lower grade staff who due to lack of experience may be lacking the necessary judgment required through the judgment sampling.

Related Discussions:- Statistical sampling - advantages

Violated or not, e following situations involve a possible violation of the...

e following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has bee

Necessity of transactions with related parties, Necessity of Transactions w...

Necessity of Transactions with Related Parties Transactions along with related parties are essential for several reasons: (a) Several financial scandals including related p

business risk and controls, What is business risk and what controls should...

What is business risk and what controls should organizations have in place? Business Risk and Controls Business or operational risks related to the activities carried out

Operational auditing, phases of operational auditing report sample or templ...

phases of operational auditing report sample or template of companies operational audit report

Information included in current file in auditing, information included in c...

information included in current file in auditing

Examples of liabilities, Examples of Liabilities Examples of those lia...

Examples of Liabilities Examples of those liabilities are: a) Claims by employees for injury at work such should be covered through workman's compensation; b) Claims thr

Statistical techniques-factors, Statistical techniques Factors to be ta...

Statistical techniques Factors to be taken into consideration before adopting statistical techniques: a) The number of clients to whom it is appropriate because set up costs a

Value for money audits in the public sector, Problem 1: You have been a...

Problem 1: You have been asked to design a system of controls so as to prevent unauthorized payments being made from the bank account. You are required to identify the controls

Internal controls and process improvement, how do internal controls affect ...

how do internal controls affect or improve the goals of a bussiness firm

Fraudulent financial reporting, Fraudulent financial reporting Involves...

Fraudulent financial reporting Involves intentional misstatements or errors of amounts or disclosures in financial statements to mislead financial statement users. Fraudulent f

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages