Data Analysis and Sampling Simplified: A Practical Guide for Internal Auditors
One of the objectives of this book is to put sampling back into its proper place. Sampling is simply a tool that has unfortunately been given undue importance as a result of the U.S. Sarbanes-Oxley Act of 2002. To appreciate the significance of sampling as a tool, you must first understand the audit process so that you can determine where to apply sampling to yield the maximum benefit. Risk-based auditing provides very specific direction about how resourcing (such as sample size) should be allocated. The sampling units (the items that auditors select) are defined by the nature of the audit evidence.
The author offers useful tips for internal auditors who are faced with a large data set wondering how to proceed, including:
- Foster your creativity and curiosity.
- Make a plan and stick to it.
- Risk is the key.
- Look at the findings of the data analysis from both the graphical/tabular and metric perspectives.
- Validate, validate, validate.
- Organize the data results.
- Always trust your knowledge, your experience, and your intuition.
Never underestimate the value you bring to the audit.
About the Author
Donald A. Dickie, PhD, is a professional statistician who spent about a third of his career in internal auditing and the remainder in various senior executive roles with one of Canada’s largest crown corporations, thus on the receiving end as a client of internal auditors. Since 2003, he has developed and taught seminars in data analysis and sampling specifically designed for internal auditors within the federal governments of Canada and the United States as well as private sector companies throughout North America. As president of D. A. Dickie Inc., he has consulting clients within Canada and the United States and appears in court as an expert witness for sampling issues raised in forensic auditing.
Item Number: 10.1315-Hardcover