Author: caats

1.0 Introduction There are two main types of sampling: Statistical sampling is used to draw conclusions about populations. Non-statistical sampling is used to establish the existence, and determine the extent of, suspected conditions. Statistical Sampling Statistical sampling permits auditors to project characteristics of the sample to the population from which the sample s drawn, whereas non-statistical sampling only allows you to draw conclusion about the sample itself. Statistical sampling also…

At the annual ACL user conference (Connection 2017) the recurring theme was “Being Sought After”.  Employees who are sought after are recognized by senior management.  In the case of ACL users, this means their ability to use analytics to identify and assess risk, detect fraud and improve operational efficiency and effectiveness.  Clearly, if you can do that, not only will you bring value to the organization, but also to your…

I often write about analytics and other aspects of data extraction, interpretation and the like.  Today I thought I would do something different. I am teaching a 4th year university/college course.  The students are eager to get their CMA/CPA designation and go off to work for a big accounting firm.  I admire their zeal, but worry about the lack of practical “seat of the pants” knowledge.   I tell them that…