Monetary Unit Acceptance Sampling: Sequential and Fixed Sample Size Plans for Substantive Tests in Auditing

Monetary unit acceptance sampling (MUAS) is a statistical model suitable for audit substantive testing. The model is stated entirely in the statistical testing framework. Nominal risks of the test are achieved against a binomial error distribution (i.e. relative errors in the population are 0% or 100% only). For typical error distributions, the test is generally conservative in that actual risks are bounded by nominal risks. Both sequential and fixed sample size plans are developed, and, for these plans, both classical and Bayesian models are proposed. MUAS is derived from physical unit acceptance sampling and thereby provides a conceptual unification of statistical compliance and substantive testing that should facilitate both the implementation and teaching of audit sampling.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Accountancy

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2014

Author dc:creator

• Rohrbach, Kermit John

• Business Administration, Accounting

Identifier

(UMI)AAI8410036

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/71387