Monetary unit sampling (MUS)
Definition
A probability-proportional-to-size method that treats each currency unit in the population as a sampling unit. Larger transactions have a higher probability of selection. Results are expressed as an upper error limit in currency, making them easier to evaluate against a materiality threshold.
Related terms
- Attribute sampling
- A statistical sampling method that tests whether each selected item either has or lacks a specified attribute, for example whether a change...
- Confidence level
- An explicit label attached to an attribution assessment indicating how strongly the available evidence supports the conclusion. Standard tiers are low, medium,...
- Risk-directed selection
- A judgmental sampling approach in which items are chosen because they exhibit specific risk indicators: unusual amounts, unusual payees, bypass of normal...
- Stratified sampling
- A sampling design that divides the population into homogeneous subgroups (strata) and samples each stratum separately. Allows the auditor to apply higher...
- Tolerable deviation rate (TDR)
- The maximum rate of control deviations the auditor is willing to accept before concluding that a control cannot be relied upon. Setting...
Explained in
- Sampling Techniques in Fraud AuditsA probability-proportional-to-size method that treats each currency unit in the population as a sampling unit. Larger transactions have a higher probability of...