Certified Public Accountant Auditing and Attestation examination.
Auditors rarely check every transaction. Instead, they use sampling to draw conclusions about a population.
These involve comparing financial data to expectations:
Sampling and analytics help auditors focus efforts, identify anomalies, and gather evidence efficiently.
A CPA selects a random sample of payroll records for testing.
An auditor notices a spike in expenses using trend analysis and investigates further.
Auditors use sampling and analytics to test financial data efficiently.