Year: 2020
Type: conference-paper
Abstract: In the preparatory phase of auditing the client, a proper assessment of materiality is necessary, since it determines the scope of population testing.Furthermore, determining the proper model and the type of population sampling ensures that the real business of the entity will be shown in the financial statements.Depending on their size, audit companies use different tools in their work.The largest audit companies ("Big Four") use expensive software, while small and medium-sized audit companies use tools that they can develop or acquire, depending on their capabilities.In this paper, we discuss the viability of small and medium companies using Excel to implement features present in General auditing software.Two processes -stratification and monetary unit sampling are provided as examples.
Authors: Mihailo Todorović, Miroslav Perić
Institution: Singidunum University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W3111135091