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 ...

Artificial Intelligence is transforming audits by enabling 100% transaction testing, reducing sampling risk, and enhancing fraud ...

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, ...

The American Institute of CPAs has released "Audit Sampling," a newly updated audit guide containing the latest requirements and practices for auditors. Processing Content The institute has updated ...

The reliance on statistical sampling is becoming an outdated risk in a data-rich world. UK audit firms must transition to full-population testing and continuous assurance, shifting the auditor's role ...

Melissa Horton is a financial literacy professional. She has 10+ years of experience in the financial services and planning industry. NicoElNino / Getty Images Simple random sampling gives each member ...