Statistical Sampling and Tests of Controls - Practical Aspects
Author:
Alexandru CORACIONI
JEL:
M40, M42, C40
DOI:
Keywords:
tests of control, revenues cycle, attribute sampling, representativity limit-error
Abstract:
\r\nThe article presents the test of control concept within the framework of the relevant international audit standards. It is described the methodology for the application of the test of control with practical examples from taken the revenues cycle. Also, it is proposed as practical application a statistical sampling method based on the representativity limit-error formula. As a conclusion, it is pointed out the importance of the tests of control in order to determine the scope of the audit strategy, but also for the improvement of the control processes.