Statistical Sampling in Financial Auditing to Estimate the Accounting Misstatements
Author:
Univ. Prof. Emeritus Elisabeta JABA, Ph. D.; Ioan-Bogdan ROBU, Ph. D.; Mihaela-Alina ROBU, Ph. D. Student
JEL:
C13, C83, M41, M42
DOI:
Keywords:
financial auditing, accounting misstatement, detail tests of transactions, external confirmations, statistical sampling, statistical estimation
Abstract:
Forming the audit opinion is based on the audit evidence obtained on the audited financial statements and transactions that led to these statements. Considering that financial, time and human resources restriction do not permit an exhaustive testing of the accounts and classes of transactions, the auditor may apply sampling procedures. The purpose of this study is to estimate the accounting misstatements related to debit balance of the accounts receivable – customers, using the data on a sample of customers. The study objectives regards determining the sample size of the customers to be verified, extracting the sample using SPSS 20.0 statistical program, estimating accounting misstatements of the debit balance regarding the accounts receivable - customers for the entire population studied.