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Definition of "Monetary Unit Sampling" |
Monetary unit sampling (MUS) is a method of statistical sampling used to assess the amount of monetary misstatement that may exist in an account balance. The method, also known as dollar-unit sampling or probability-proportional-to-size sampling, has been used for many years and is widely accepted among auditors.Many auditors apply MUS using essentially the same methods that were used before the invention of personal computers and spreadsheet software. This approach relies on printed tables that offer limited options. Furthermore, MUS requires calculations that introduce the possibility of error if made manually. With current technology, auditors can use a Microsoft Excel spreadsheet that automates and enhances the use of MUS and reduces the chance of errors. |
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