Audit Sampling. Representativeness of Samples, Parameters and Monetary Unit Sampling


Term Paper, 2016

25 Pages

Anonymous


Abstract or Introduction

The rapid growth of American companies at the beginning of the twentieth century resulted in a high demand for audits which are based on selected tests of items that represent the account balances or classes of transaction. Some auditors used to include every transaction from the respective period into the examination. However, some groups of auditors begin to develop methods to apply statistical sampling in auditing processes during the 1950s.

This paper is structured as follows: in the main part, audit sampling and relevant terms are discussed. Representativeness of the sample is mentioned, which is significant aspect to make proper conclusions in respect to the population. The different types of generating population and their advantages for sampling. Furthermore, different sampling methods with each other compared, and the advantages and disadvantages of sample selection methods are discussed. In the third part, the main parameters of audit sampling are discussed in detail and their effects on the sample size and overall audit process are mentioned. In the fourth part, MUS system and its benefits and restrictions are clarified. The fifth part summarizes and concludes with the help of the Excel sample.

Details

Title
Audit Sampling. Representativeness of Samples, Parameters and Monetary Unit Sampling
College
University of Duisburg-Essen  (Auditing, Accounting and Controlling)
Course
Case Study Seminar on Auditing
Year
2016
Pages
25
Catalog Number
V1382668
ISBN (eBook)
9783346925749
ISBN (Book)
9783346925756
Language
English
Keywords
Statistical versus Non-Statistical Sampling, Probabilistic versus Non-Probabilistic Sample Selection , Monetary Unit Sampling (MUS), Audit Sampling
Quote paper
Anonymous, 2016, Audit Sampling. Representativeness of Samples, Parameters and Monetary Unit Sampling, Munich, GRIN Verlag, https://www.grin.com/document/1382668

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