An assessment of controls at companies in the dairy sector in Ireland has found the system works well overall but there are several areas that need improvement. The audit covered official controls by ...

Stratified mean-per-unit sampling is a key tool used by auditors. The popularity of this statistical procedure arises from its unique ability to produce trustworthy ...

A follow up audit in Poland has found ongoing differences between Salmonella results from official controls and sampling by ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.