Statistical Sampling and Risk Analysis in Auditing: 1st Edition (Paperback) book cover

Statistical Sampling and Risk Analysis in Auditing

1st Edition

By Peter Jones


182 pages

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This book is aimed at those with responsibilities for audit, risk and control - auditors of course - but also finance directors, audit committee members, project accountants, systems designers and other professionals too. Working under pressure, these people often need to take account of theory and best practice but strike a balance with the practical demands of their workplace. This book’s practical emphasis on meeting the ever-changing needs of clients and auditees will benefit a wide audience by helping readers to: ¢ select a suitable, practical sampling approach ¢ appreciate the statistical implications ¢ evaluate the results of audit testing ¢ take account of risk and control evaluation in targeting valuable audit resources. It does this by laying out the principles behind a concept and then grounding them in ’real life’ cases for the reader to work through. These are accompanied by suggested solutions which, while not definitive answers, do provide valuable advice and guidance. Finally the range of appendices, including a complete copy of the statement of auditing standards, SAS 430, make this book an essential resource for everyone concerned about modern auditing.


'… aims to help auditors, accountants and finance directors adopt best practice in auditing methods … I found it easy to read and worthy of adding to auditors' book-shelves.' Quality World

Table of Contents

Contents: List of figures; List of tables; List of case studies; Introduction; Statistical and non-statistical approaches; Why bother to use statistical sampling?; Theory, concepts and conditions; Attribute sampling; An introduction to monetary unit sampling (MUS); Monetary unit sampling - taking account of errors; Risk models and the reduction of sample sizes; Other sampling approaches; Final concluding thoughts; Appendices: Additional Case Studies; Glossary; Abbreviations; SAS 430; Tables; Further Reading; Index.

About the Author

Peter Jones has long been directly involved in both internal and external audit. He has written and taught successfully on audit, business and related topics over many years. Peter is the Director of IACS (Internal Audit Consultancy Services), a company dedicated to providing quality services and training to internal auditors in public and private enterprises.

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