The application of the sample method in the audit process by the audit companies in the Republic of North Macedonia

Dimitrova, Janka and Gorgieva-Trajkovska, Olivera and Koleva, Blagica and Kocevska, Frosina and Dimitrova, Eftimija (2019) The application of the sample method in the audit process by the audit companies in the Republic of North Macedonia. Economic Development, Journal of the Institute of Economics - Skopje. ISSN 1857-7741

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Abstract

The audit process is an activity carried out by certified auditors employed in audit companies in order to prepare an audit report and an opinion on the truthfulness and accuracy of the information presented in the financial statements, on the basis of which interested stakeholders make business decisions. The audit raises the credibility of the financial statements. The audit involves the application of a number of audit procedures and tests in order to provide sufficient and adequate audit evidence which is a basis for the audit opinion. As a tool for implementing a fast, efficient, effective and economical audit, the sample method in audit is applied. The choice of a representative sample of items that will represent the overall population of items subject to audit requires the knowledge and skills of the auditor who is conducting the audit. How much, when and why the auditors apply the sample method in the audit, is subject of an empirical survey conducted by the audit firms in the Republic of North Macedonia, and the results of the research and the conclusions are presented in this paper. Key words: audi; information; financial reports; population; sample method JEL classification: M42

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Olivera Trajkovska
Date Deposited: 17 Dec 2019 10:34
Last Modified: 17 Dec 2019 10:34
URI: http://eprints.ugd.edu.mk/id/eprint/23110

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