When auditing a company, auditors use a combination of professional judgment and statistical sampling methods ... sufficiency of audit evidence and objectively evaluate the sample results.

Businesses and finance often use sampling. For example, a company looking to evaluate ... Many types of sampling methods exist, including random, stratified, cluster, systematic, and convenience ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...