Plenary Lecture
Objectivity or Subjectivity in Audit Sampling?
Professor Tatiana Danescu
Faculty of Economics
Juridical and Administrative Sciences
"Petru Maior" University
ROMANIA
E-mail: tatiana_danescu@yahoo.com
Abstract: In financial auditing practices, sampling is widely used to collect audit evidences that are indispensable in convincing financial auditor upon the compliance of financial statements with the financial reporting framework applicable for the audited entity, with the accuracy of conducting the audited business. Audit sampling technique is used both for auditing internal control elements and for auditing transactions and account balances. The responsibilities a financial auditor is held accountable for, provide importance to the audit decision-making process, especially in establishing the nature and the adequate quantity of audit evidence. This is the reason why many auditors express retention regarding the use of audit sampling. Their behavior is justified by the sampling risks, which can affect the efficiency and effectiveness of audit sampling, especially in situations when the financial auditor has not acquired sufficient knowledge regarding the audited entity. In addition, it may appear a temporarily doubt upon the objectivity or subjectivity in audit sampling, upon the undermining of professional judgment in applying audit sampling. Under these arguments, the use of an extensive research methodology on audit sampling, beginning with documentation, calculation, observation, analysis and synthesis, becomes really necessary to prove that sampling – an important decision tool for the financial auditor – must be objective, justified, free from suspicions and assumptions.
Brief Biography of the Speaker:
Tatiana Danescu is an Professor Ph.D. of Financial Audit and Accounting at Faculty of Economic, Juridical and Administrative Sciences, "PETRU MAIOR" University of Targu-Mures, Romania and Ph.D coordinator within "1 December 1918" University of Alba Iulia. Shies area of expertise is financial audit and accounting. She authored 6 books and co-authored 17 books, monographs, materials for study. She wrote over 160 articles, papers presented at national or international conferences and papers published in international database indexed journals. Also she evaluated over 50 academic studies programs and she had the opportunity to be research fellow in over 23 projects under contract /grant.
Tatiana Danescu won 2 prices and 1 medal for shies professional activity in accounting and financial audit.
Moreover, she has more professional certificates, for example: Internal auditor for public institutions, Practitioner in reorganization and liquidation Financial auditor, Chartered Accountant, Financial audit of the entities from the capital market , Investment Consultant, Fiscal consultant, Assessor of the quality of the higher education in Romania, Trainer CAFR financial audit, Member Scientific Board of the journal (Apulensis Universitatis, Series Oeconomica, University "1 December 1918" Alba Iulia, Universities study Petru Maior "series Oeconomica, Annals of the University of Petrosani, Economics Series).
She is a member of the National Council of the Romanian Financial Auditors’ Chamber.