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Abstract Details
Activity Number:
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476
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Type:
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Contributed
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Date/Time:
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Wednesday, August 1, 2012 : 8:30 AM to 10:20 PM
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Sponsor:
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Section on Survey Research Methods
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Abstract - #305577 |
Title:
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Statistics and Audit Sampling
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Author(s):
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Mary Batcher and Fritz Scheuren*+
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Companies:
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Ernst & Young and NORC
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Address:
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22 East Monroe, Chicago, IL, , United States
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Keywords:
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sampling ;
audit
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Abstract:
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Probability and judgment samples are extensively used in financial audits. Probability samples need no discussion in this audience. Judgment sampling, even though much maligned, can have a useful role in a discovery context when conducting a compliance audit. Still, probability samples are required if attribute error rates are sought. Seemingly forgotten in recent years is that when problems are found through a discovery judgment sample, there is no direct way to accurately estimate the impact of a control failure. Without a probability sample follow up, conclusions, even if based on multiple judgment samples, can be misleading. The use of now standard meta-analysis tools for multiple judgment samples simply does not work. The nonstatistical intuition is that multiple judgment samples can, somehow, be combined and a stronger inference made. That is simply untrue and has caused much harm in some important cases. The just settled Cobell Indian Trust Case will be used as an example.
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