IDEA Sampling Capabilities
Sampling can add significant value to the audit testing process. In a nutshell, sampling involves testing a sub-set population, then using the results to draw a conclusion about the entire population. Sampling saves valuable time and expense – especially when IDEA is used. IDEA offers five sampling methods together with the ability to calculate sample sizes based on parameters entered and to evaluate the results of sampling tests. Sampling methods include systematic, random, stratified random, monetary unit and classical variables. Attribute Planning and Evaluation can be used to calculate sample sizes, confidence levels, and error limits. With all these options, rest assured you will find the methodology you need within IDEA.