# Use of Statistical Methods for Audit Purposes

• Т. О. Kamenska National Academy of Statistics, Accounting and Audit
Keywords: population, sample, auditor, risk, reliability, statistical methods

### Abstract

The issue related with use of statistical methods in practical work of auditors, for sample studies purposes, is discussed. Detailed description of one method, the method of sequential analysis, is given. It is demonstrated that the required conditions for use of the sequential statistical sample is homogeneity of the population elements and the sample representativeness. Recommendations on defining the homogeneity and number of elements in a sample are given. To assure high quality of a sample study, an auditor needs to set the value of reliability or trust, characterizing the level of requirements to the accuracy of the obtained results which are the input for estimating the distortion and the size of population. The risk of sample as a factor affecting the reliability is described, their causal link is highlighted. The elements are sampled by use of the table of random numbers or computer software. Results of tests of sampled elements and estimated parameters of the population are presented in table and graph forms. Results of tests of each population element are estimated by an auditor, with the distortion of the sum of the sample elements taken as the benchmark. Formulae for computation of the required indexes are given, used at each phase of the study. The algorithm for use of the sequential statistical sample in audit for document verification procedures, and the algorithm for estimating the population parameters by the results of a sample study are shown.

### References

1. Mizhnarodnyi standart audytu 530 “Audytorska vybirka” [International Standard on Auditing 530 “Audit sampling”]. www.apu.com.ua. Retrieved from http://wwwapu.com.ua/attachments/article/290/ Audit_2015_l_all.pdf [in Ukrainian].

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4. Avdeev, V. Yu. (2002). Primenenie vyborochnykh metodov v audite [Application of sampling methods in the audit]. www.audit-it.ru. Retrieved from http://www.audit-it.ru/articles/audit/al04/40724.html [in Russian].

5. Tkach Ye. I., & Storozhuk, V. P. (2009). Zahalna teoriia statystyky [General Theory of Statistics]. (3d ed.). Kyiv: Tsentr uchbovoi literatury [in Ukrainian].

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