Sequential sampling in the public sector audit procedure
Sekvencijalno uzorkovanje u postupku revidiranja javnog sektora

Slobodan Stanojević
2021 Revizor  
A fundamental weakness of the audit procedure of financial statements in the public sector is eliminating the functionality of sampling and thus the importance of the concept of materiality. The experience of the State Audit Institution (SAI) shows that 100% of the examination of documentation dominates in practice. Non-statistical sampling methods have a significant advantage because they put the scope of testing in the foreground as a matter of professional audit judgment. In contrast,
more » ... ical sampling requires the use of a statistical apparatus, usually an interval of confidence, which may or may not be decisive in determining the magnitude of the error. In addition, the importance of spending budget money requires the highest levels of accuracy in testing documentation, which extrapolated to the population does not have to be significant.
doi:10.5937/rev2194081s fatcat:rpgi5z4zffcmzo27yg2vtelbma