Transcription of SAMPLING FOR INTERNAL AUDITORS - …
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By Mwenya P. Chitalu CIA SAMPLING FOR EFFECTIVE INTERNAL AUDITING EXPECTED PRESENTATION OUTCOMES Why Do AUDITORS Sample? SAMPLING Policy Statistical & Non-statistical SAMPLING Statistical Terminologies Statistical SAMPLING Plans External Auditing Standards Sample Selection Methods Illustrations DEMYSTIFYING STATISTICAL SAMPLING The Principle (or Law) of Parsimony: That things are usually connected in the simplest or most economical way. Reducing ideas to small, easy-to-write symbols & saying a lot in a small area covered by a formula. Eliminate the Greek, Arabic & Roman language barrier in symbols & Formulae that mystify Mathematics or Statistics. Just like any other audit, Probe Statistical Assertions-Life can be made easy with appropriate SAMPLING . If it cannot be measured, then it cannot be managed economically, efficiently, & effectively. Mathematics or statistics is commitment to logical thinking. It squeezes the most learning about the population from limited sample data.
WHY DO AUDITORS SAMPLE? International Standards for the Professional Practice of Internal Auditing: Guides Information should be: Sufficient, Reliable, Relevant & Useful
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