Publicly held companies, or private companies that apply for credit, must have routine audits of financial transactions conducted. Outside agencies, not affiliated with the company, perform these ...

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 ...

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, ...

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

A longtime mainstay for audit and assurance professionals, ITAF was last updated in 2020. The comprehensive IT audit framework establishes standards that address IT audit and assurance practitioners' ...

The reliance on statistical sampling is becoming an outdated risk in a data-rich world.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 ...