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The application of statistical and mathematical tool in conducting audit is very important from the point of view of auditor's effectiveness in discharging his duties. Due to paucity of time, it is not possible for the auditor to conduct in depth checking of different transactions in an Organization. Test checking is the only way out and the technique of test checking is basically based on one of the statistical tool, i.e., sampling. Different other mathematical and statistical techniques are adopted in conducting audit in the areas of vouching, verification and routine checking to make the audit procedures effective.
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What is the relationship between algebra and probability?
They are both branches of mathematics.
What is the relationship between art and mathematics?
not sure , maybe cuzins ..
What is the relationship between accounting and mathematics?
accounting is general mathematics which improve your calculations and makes you a expert in mathematicx. So to be perfect in mathematics you have to make your account best than your mathematics.
Differences between audit plan and audit program?
difference between audit program audit & note book
What is the relationship between math physics and chemistry?
Mathematics is used in all the sciences.
What is the relationship between x and y in mathematics?
In mathematics, the relationship between x and y is often represented by an equation or a function. This relationship shows how the value of y changes based on the value of x. It can be linear, quadratic, exponential, or any other type of relationship depending on the specific equation or function being used.
What is the relationship between tessellations and Mathematics?
symetry is part of math, based on angles and numbers
Is addition and subtraction is a part of commercial mathematics?
audit to bank working system
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
Difference between audit plan and audit program?
an audit program may contain several audit plans
What is relation between mathematics and geography?
Linear Analysis is a technique used in statistics to determine the constant relationship between two variables.
What is the relationship between audit planning and audit risk?
Audit planning and audit risk are closely related as effective planning helps to identify and mitigate potential risks associated with the audit process. During the planning phase, auditors assess inherent and control risks to determine the nature, timing, and extent of audit procedures needed. This proactive approach allows auditors to focus on areas with higher risk, ensuring that the audit is efficient and effective in detecting material misstatements. Ultimately, thorough audit planning aims to reduce overall audit risk and enhance the reliability of the audit results.
