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Business Research and Statistics in Auditing

Please provide your feedback to these Business Research and Statistics questions below. Thanks.

1. How about sharing some of the statistical aspect used in auditing?

2. Interesting comment: "The ultimate goal is to make sure that it is as accurate as possible, so that people do not skew the data, which could hinder the results when interpreting it for one to help the business run smoothly." Surely people would not skew or mislead the statistical implications of an analysis! Why might we get inaccurate or skewed or biased data for our statistics?

3. Consider "It is important for business to analyze data to determine what decisions must be made within the company." Why?

4. Consider, "Every person is inundated with numerical information and statistics is used to understand the information .... ". Outside business, how do we use statistics to help in our daily lives?

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1. How about sharing some of the statistical aspect used in auditing?

Some statistical aspects of auditing are important. A person can find out what is going on with the trends within certain distributors that a company is using as a means in which to make sure that their products are of high quality. Another area is that one can consider making sure that the figures that the accountant comes up with are not so skewed. By taking this approach, one is capable of making a sound decision by means of using less bias when studying quantitatively and qualitatively how the business is doing on a regular basis. In essence, this makes one wonder how the organization is doing and ways to make it better from looking at it from the perspective of the customer and the employee. The ultimate goal is to make sure what needs fixed is done so in due time in accordance with what the CEO requires when auditing all the departments as well as that of the accountant.

2. Interesting comment, "The ...

Solution Summary

This solution provided input on statistics and business.