is it me or is audit just nonsense....get comfort over the financials by making a few samples out of a population of millions of transactions.

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Somebody skipped their stats class in college. Do you think the pharmaceutical industry is a sham too since they only test new drugs on a few hundred/thousand people when it could possibly be used by hundreds of millions of people?

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Half the people re sample when they get errors...

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It's statistically sampling. There's also a reason why you pick key items. And re sampling when you get an error is just bad auditing.

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You have itra for that reason. Making sure financials systems are true

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And audit managers fight when we say you can't reply on this application

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Well, the problem is that not that many things are true normal, Gaussian distributions. Look at Black Scholes - everyone knows it is deeply flawed, but the market has struggled to absorb or apply any alternatives (largely due to the regulators only allowing it), but my point remains.

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#analytics

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