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A Combined Bound for Errors in Auditing Based on Hoeffding's Inequality and the Bootstrap

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  • Clayton, Howard R

Abstract

This paper describes a simulation study of a nonparametric bound on the total error amount in an auditing population. The bound is a combination of a bootstrap approximation of the bound generated by Hoeffding's inequality and a modified nonparametric bootstrap-t method. For the 95 percent confidence level and size 120, the combined bound is reliable over a wide range of simulated study populations and is on average 13 percent smaller than the benchmark Stringer bound based on the binomial distribution. For real accounting populations, the combined bound remains reliable and is on average 24 percent smaller than the Stringer bound.

Suggested Citation

  • Clayton, Howard R, 1994. "A Combined Bound for Errors in Auditing Based on Hoeffding's Inequality and the Bootstrap," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(4), pages 437-448, October.
    • Handle: RePEc:bes:jnlbes:v:12:y:1994:i:4:p:437-48
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    Cited by:

    1. Clayton, Howard R. & McMullen, Patrick R., 2007. "Combining approaches for evaluating auditing populations: A simulation study," European Journal of Operational Research, Elsevier, vol. 178(3), pages 907-917, May.

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