Statistical sampling for audit and control:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London
Wiley
1974
|
| Series: | A Wiley-Interscience publication.
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIX, 279 S. graph. Darst. |
| ISBN: | 0471589918 |
Staff View
MARC
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| 245 | 1 | 0 | |a Statistical sampling for audit and control |c Thomas W. MacRae |
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| 650 | 4 | |a Accounting | |
| 650 | 4 | |a Auditing | |
| 650 | 4 | |a Sampling (Statistics) | |
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Record in the Search Index
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| adam_text | Contents
Preface vii
1 The uses of statistical sampling in auditing 1
Introduction 1
The five sampling methods 2
Discovery sampling 3
Acceptance sampling 4
Estimation sampling of attributes 5
Estimation sampling of variables 6
Monetary unit sampling 9
Summary 9
Question series 1 9
Some answers to question series 1 10
2 Some terms used in statistical sampling 11
Some brief definitions 11
Some terms used in statistical sampling 12
3 The basic theory of sampling 13
A practical example 13
The level of confidence 14
Using the sample to test a hypothesis 17
Using the sample proportion as a best estimate 19
What size of sample? 19
Standard error of the sample mean 20
The standard error of other statistics 23
A comment on the actual error rate 23
Question series 3 24
Some answers to question series 3 25
4 What size of sample does the auditor need? 26
Introduction 26
On calculating an optimal sample size 26
The effect of population size on sample size 30
What level of confidence does an auditor, need? 31
The precision limit 32
xiii
XIV CONTENTS
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Summary 34
Question series 4 34
Some answers to question series 4 35
5 How to measure the standard deviation of accounting populations 36
Introduction 36
The concept of dispersion 36
The conventional method of calculating the standard
deviation of a population 39
A speedier way of calculating standard deviation 40
Finding the standard deviation of large populations 41
Average range method of estimating standard deviation 42
The effect of standard deviation on sample size 43
The coefficient of variation 44
Summary 45
Question series 5 45
Some answers to question series 5 46
6 Methods of drawing a random sample 47
Introduction 47
What is a sample? 47
Drawing the sample 47
Random sampling with and without replacement 48
Judgement versus random sampling 48
The advantages of random sampling 49
The pure random sample 49
The systematic random sample 50
Junior digit random sampling 51
Other methods of random sampling 52
Testing for randomness 53
The run method of testing for randomness 53
Testing larger populations 55
Summary 56
Question series 6 56
Some answers to question series 6 57
7 Some comments on defining and analysing an accounting
population 58
What is a population? 58
CONTENTS XV
Attributes and variables 58
On defining accounting populations 59
The meaning of homogeneity 60
The meaning of skewness 61
How do we measure the skewness of a population ? 63
Using the median instead of the mode 64
Mode or median? 65
The problem of stratification 65
Stratifying debtors, inventory and other value populations 65
The optimal stratification plan 66
Example of stratification 68
Stratification in practice 70
Other strategies for stratification 72
The Lorentz curve 73
Question series 7 73
Some answers to question series 7 75
8 Estimation sampling of values (variables) and proportions
(attributes) 78
Estimation sampling of variables 78
Calculating sample size using formulae 80
Estimating the value of differences 81
Ratio estimates 84
Difference versus ratio estimates 86
Ratio versus simple random sampling of checked population 86
A caution 86
Estimation sampling of attributes 86
A note on joint confidence limits 90
Summary 90
Question series 8 91
Some answers to question series 8 92
9 Acceptance and discovery sampling 94
Glossary of abbreviations used in acceptance sampling 94
Introduction 94
Acceptance sampling 94
The mechanics of acceptance sampling 96
The case of the hardline policeman 97
The double sampling approach 100
Sequential sampling 101
xvi CONTENTS
Which acceptance sampling plan is the best? 102
Discovery sampling 103
The case of the overworked doctor 103
Practical example of discovery sampling 105
Summary 106
Question series 9 107
Some answers to question series 9 108
10 Cluster, multistage and replicated sampling 109
The cluster sample 109
How do we calculate the precision limit on a cluster
sample?—variable sampling 110
Cluster sampling for attributes 112
Summary 113
Multistage sampling 113
A general method of calculating sampling error 118
Question series 10 120
Some answers to question series 10 123
11 Sundry topics 125
Introduction 125
One tailed tests, confidence level and sample size 125
A caution on one tailed tests 127
Some additional comments on the average range method of
calculating standard deviation 128
On treating several populations as one 132
On checking several populations from the same sample 132
A random sample is a random sample is a random sample 134
The problem of the missing voucher 135
The finite population correction factor 135
Estimating the size of populations 138
On calculating the level of confidence in previous years
when statistical sampling not employed 139
Graphs versus tables 140
What does the auditor do if the audit fee is insufficient to
cover the required sample size? 141
Using statistical sampling to test systems 142
Using the computer to assist in sampling 143
Sample size and the interim audit 144
Question series 11 145
Some answers to question series 11 147
CONTENTS XVii
12 The detection of fraud 149
Introduction 149
Levels of significance 149
The needle in a haystack problem 150
The Salami type fraud 151
Summary 153
Question series 12 153
Some answers to question series 12 154
13 Case study on statistical sampling in auditing—verifying
the provision for doubtful debts 155
14 Statistical cost allocation 162
Introduction 162
The cost allocation problem 162
The traditional allocation procedure 163
Manual versus machine methods 163
Statistical cost allocation 164
The mechanics of statistical cost allocation 165
Level of confidence 165
Example 166
Some other examples 171
Conclusion 173
Question series 14 174
Some answers to question series 14 174
15 Can the Bayesian approach assist the auditor? 176
Introduction 176
Subjective probability 176
Objective probability 178
Testing a doubtful debts provision 179
Using Kraft s tables to calculate level of confidence 183
What has the Bayesian approach achieved? 183
Question series 15 185
Some answers to question series 15 187
16 Some advice on integrating statistical sampling into
conventional auditing procedures 188
Introduction 188
1. Ensure informed support from the top 189
xviii contents
2. Ensure that informed opinion about scientific sampling
is provided at every level of the firm 190
3. Must we have access to a fully qualified statistician
when designing the sampling plan? 191
4. How do we select the first application? 192
5. When you apply scientific sampling to an audit for the
first time prepare a job manual, detailed audit
programme and procedure booklet 195
6. Other points to consider 197
7. The need for a library 198
Summary 198
Question series 16 199
Some answers to question series 16 199
17 Monetary unit sampling 200
Introduction 200
A description of the MUS system 200
The method of deciding on the reliability factor 201
The method of deciding on monetary precision 203
Calculating the sample size 206
Type of error 208
Example 208
The discovery of monetary error 209
Adjusting the MP for monetary error 209
Adjusting for compliance error 211
Example 213
A worked example of the MUS system 214
Final estimate of adjusted MP 218
The advantages of monetary unit sampling 218
Operational advantages 219
Theoretical advantages 219
Limitations of the MUS system 220
Question series 17 224
Some answers to question series 17 225
18 Some statistical sampling tables available 226
Introduction 226
Description of sampling tables available 226
19 A summary of the formulae 228
Introduction 228
CONTENTS xix
20 A selective bibliography on statistical sampling in auditing 232
Books on the general theory of sampling 232
Books on applying sampling to auditing and accounting 232
Articles 233
21 Tables and Graphs for calculating sample size plus set of
instructions for operating each system 236
Sampling table index 236
Areas under the normal curve 237
Discovery sampling tables 238
Estimation sampling of attributes 239
Estimation sampling of variables (values) 249
Acceptance sampling 257
Method of constructing other single sampling plans 261
Instructions for calculating a double sampling plan 264
Average range method divisors for estimating the standard
deviation of accounting populations 265
Random numbers 266
Finite population correction factor 270
Random days 271
Random weeks 271
Random months 272
References 273
Author Index 275
Subject Index 277
|
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| id | DE-604.BV005119599 |
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| indexdate | 2024-07-09T16:23:11Z |
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| isbn | 0471589918 |
| language | English |
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| physical | XIX, 279 S. graph. Darst. |
| publishDate | 1974 |
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| series2 | A Wiley-Interscience publication. |
| spelling | MacRae, Thomas W. Verfasser aut Statistical sampling for audit and control Thomas W. MacRae London Wiley 1974 XIX, 279 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier A Wiley-Interscience publication. Comptabilité ram Vérification comptable ram Échantillonnage (statistique) ram Accounting Auditing Sampling (Statistics) Revision Wirtschaft (DE-588)4049674-0 gnd rswk-swf Stichprobe (DE-588)4057502-0 gnd rswk-swf Stichprobe (DE-588)4057502-0 s Revision Wirtschaft (DE-588)4049674-0 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003147268&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | MacRae, Thomas W. Statistical sampling for audit and control Comptabilité ram Vérification comptable ram Échantillonnage (statistique) ram Accounting Auditing Sampling (Statistics) Revision Wirtschaft (DE-588)4049674-0 gnd Stichprobe (DE-588)4057502-0 gnd |
| subject_GND | (DE-588)4049674-0 (DE-588)4057502-0 |
| title | Statistical sampling for audit and control |
| title_auth | Statistical sampling for audit and control |
| title_exact_search | Statistical sampling for audit and control |
| title_full | Statistical sampling for audit and control Thomas W. MacRae |
| title_fullStr | Statistical sampling for audit and control Thomas W. MacRae |
| title_full_unstemmed | Statistical sampling for audit and control Thomas W. MacRae |
| title_short | Statistical sampling for audit and control |
| title_sort | statistical sampling for audit and control |
| topic | Comptabilité ram Vérification comptable ram Échantillonnage (statistique) ram Accounting Auditing Sampling (Statistics) Revision Wirtschaft (DE-588)4049674-0 gnd Stichprobe (DE-588)4057502-0 gnd |
| topic_facet | Comptabilité Vérification comptable Échantillonnage (statistique) Accounting Auditing Sampling (Statistics) Revision Wirtschaft Stichprobe |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=003147268&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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