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Robust Bayesian Bounds for Monetary‐Unit Sampling in Auditing

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  • John Neter
  • James Godfrey

Abstract

Mixture distributions combining a probability mass at zero and a continuous density function for positive outcomes are frequently found in auditing. The Cox and Snell bound for evaluating the results of monetary unit sampling is a Bayesian bound utilizing prior information designed for such mixture distributions. In this paper it is shown that conservative prior parameter values for the Cox and Snell bound can be found such that this bound possesses classical confidence properties in repeated sampling from a wide variety of possible realized populations.

Suggested Citation

  • John Neter & James Godfrey, 1985. "Robust Bayesian Bounds for Monetary‐Unit Sampling in Auditing," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 34(2), pages 157-168, June.
    • Handle: RePEc:bla:jorssc:v:34:y:1985:i:2:p:157-168
    DOI: 10.2307/2347368
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    Cited by:

    1. Ella Mae Matsumura & Kam†Wah Tsui & Wing†Keung Wong, 1990. "An extended multinomial†Dirichlet model for error bounds for dollar†unit sampling," Contemporary Accounting Research, John Wiley & Sons, vol. 6(2), pages 485-500, March.

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