AUD Formulas & Equations

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Last updated 2:15 AM on 5/1/26
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9 Terms

1
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Mean Per Unit

Average Audited Value x Population number

2
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Ratio Estimate

(Audited value / sample Book value ) x population book value

3
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Projected Error (Difference Estimation)

((Book value of sample - Audited value of sample)/ Number of sample size) x population book value

4
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Difference Estimation

Population book value - Projected Error

5
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Sampling Interval

Tolerable Misstatement / reliability factor

6
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Sample Size

Book value of population / sampling interval

7
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Projected Error ( PPS Tainting)

(Book value of sample - Audited value of sample)/ Book value of sample

8
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Estimate ( PPS Tainting)

Population Book Value - Projected Error

9
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Audit Risk Model

Risk of Material Misstatement x Detection Risk