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How will the different methods affect the audit?
Matched Random Sampling -
Cluster Sampling -
Stratified Sampling© BrainMass Inc. brainmass.com October 16, 2018, 8:22 pm ad1c9bdddf
The response addresses the queries posted in 929 words with references.
//Before writing about the different methods of sampling, which affect the audit, it is crucial to gain knowledge about 'Sampling'. One should know about the main concept of sampling, which further will assist in analyzing its impact on audit, in an effective manner.//
Sampling provides the knowledge of the population through selection of an individual, observation and interpreting the results. The results of the interpretation are useful in taking certain decisions. Sampling has seven phases, first is to define the problem. It is essential to understand the root cause of the results. In simple terms, reason for the outcome is studied. Sampling frame is set to measure the element of the population as it is not possible to include every item for the sampling (Kothari, 2005) Sampling frame has some specifications which allow including all the related elements. In setting the frame, various issues as political and technical are taken into account.
In the third phase, sampling method is selected. Various methods are quota sampling, stratified sampling, cluster sampling, random sampling. Sampling method is finalized to select the events from the sampling frame. In the sampling, it is necessary to understand the population causing the variance. After determining the sample size, implementation of sampling plan is conducted. Data is collected in the time limitations and non responses are recorded. Finally, in the last stage, sampling ...
835 words, APA
Auditing Techniques, Methods and Real Life Examples.
Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a subunit of internal auditing or security or as a separate unit within the organization. In addition, many accounting and consulting firms have a forensic, investigation, and litigation support services.
The financial forensic investigation techniques and procedures used within an organization (in-house) or from a professional contracted service firm can come about in different ways. For example, some forensic techniques for analyzing financial statements are common for financial auditors, fraud auditors, or forensic accountants and investigators. Other techniques, such as using behavior detection methods and interviewing methods, are primarily used in specific fraud investigation engagements.
Support your answers with 2 academic or real-life criminal justice examples to accentuate your point.
Research and locate a company that was audited by an outside source and explain the method, technique, and findings of an audit.
Do you think that it is a wise investment to contract services that provide security against fraud or should it be an in-house department that provides fraud security services?
Include additional information that you think is appropriate or interesting concerning ethical or unethical business behavior.View Full Posting Details