Monetary Unit Sampling Method - Practical Aspects

Author:Alexandru CORACION

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DOI:

Keywords:sample, hypergeometric probability distribution, monetary unit sampling

Abstract:
In the practice of auditing, the financial auditors may use different sampling methods, statistical or non-statistical. The article details for the financial auditors of Romania a practical approach for the monetary unit sampling method. The mathematical background of the method consists in the application of the hypergeometric probability distribution belonging to the probability theory. The method has the advantage of increasing the efficiency of the audit work due to the reduction of the sample size after the probability-proportional-to-size sampling. The sampling result evaluation has to consider the effect of the errors smaller than the sampling interval value, over the estimated error value at the population level.\r\n

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