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You cannot incorporate this prior information into your analysis because you are not testing against a performance materiality.
Select one or more sampling objectives from the top left corner to begin planning an audit sample.

%1$s <b>Test against a performance materiality</b>

Enable this objective if you want to <i>test</i> whether the total misstatement in the population exceeds a certain limit (i.e., the performance materiality) based on a sample. This approach allows you to plan a sample such that, when the sample meets your expectations, the maximum error is said to be below performance materiality. In the evaluation you will be able to quantify the evidence that your sample contains for or against the statement that the population misstatement does not exceed the performance materiality.

%2$s <b>Obtain a required minimum precision</b>

Enable this objective if you want to obtain a required minimum precision when <i>estimating</i> the total misstatement in the population based on a sample. This approach allows you to plan a sample such that, when the sample meets expectations, the accuracy of your estimate is below a tolerable percentage. In the evaluation you will be able to quantify the accuracy of your estimate of the population misstatement.
The objective of this sampling procedure is to estimate the misstatement in the population with <b>%1$s</b> confidence and a minimum precision of <b>%2$s</b>.

The quantity of interest is the misstatement θ in the population. Misstatement is defined as the difference between a transaction's <i>Ist</i> (recorded) position and its <i>Soll</i> (true) position.
%1$s

The quantity of interest is the misstatement (θ) in the population. Misstatement is defined as the difference between a transaction's <i>Ist</i> (recorded) position and its <i>Soll</i> (true) position. When testing the population misstatement against a given performance materiality (θ*), two statistical hypotheses about θ are formulated:

The (null) hypothesis of intolerable misstatement <i>H₊: θ ≥ θ*</i>,
The (alternative) hypothesis of tolerable misstatement <i>H₋: θ < θ*</i>.

The audit risk (α) is the risk of incorrectly rejecting the hypothesis <i>H₊: θ ≥ θ*</i>. To reject this hypothesis on the basis of a sample, the information from the sample must be sufficient to reduce α to an appropriately low level (< %2$s%%).
%1$s

In a Bayesian analysis, the parameter θ is first assigned a prior probability distribution that incorporates the existing information about its possible values. A description and figure of the current prior distribution can be found under the <i>Tables and Plots</i> section. You can incorporate existing information using the options under the <i>Prior Information</i> section.
a performance materiality of <b>%1$s</b>
the sample provides sufficient information to conclude that the misstatement θ is below the performance materiality θ*
a required minimum precision of <b>%1$s</b>
the sample provides sufficient information to estimate the misstatement θ with the required precision
a performance materiality of <b>%1$s</b> and a required minimum precision of <b>%2$s</b>
the sample provides sufficient information to conclude that the misstatement θ is below the performance materiality θ* with the required minimum precision
Furthermore, the uncertainty regarding θ will only be extrapolated over the unseen part of the population. This requires the additional assumption that the population taints are homogeneous.
The purpose of the planning stage is to find a sample size so that, given a certain number of expected misstatements, the sample provides sufficient information to achieve the specified sampling objectives.
Ist position (<i>...</i>)
Euros
Dollars
Ist position (<i>%1$s</i>)
record variable (<i>...</i>)
record variable (<i>%1$s</i>)
<br><b>Warning:</b> A monetary unit sampling method was tried but failed.