Audit Sampling. Representativeness of Samples, Parameters and Monetary Unit Sampling

The paper explores the evolution of auditing practices in American companies during the early twentieth century, highlighting the increasing demand for audits due to rapid corporate growth. It contrasts traditional methods, which examined all transactions, with the emergence of statistical sampling techniques developed by some auditors in the 1950s. This shift aimed to enhance efficiency and effectiveness in auditing processes, reflecting a significant advancement in the field of business economics and auditing methodologies.