Technology In Auditing Using Benford?s Law

engine room in Auditing Using Benford?s truth Technology in Auditing Using Benfords Law What started come to the fore as a curious observation by an stargazer in 1881 has the potential to have a significant daze on the audit profession 125 years later. In 1881, the astronomer Simon Newcomb noticed that the front pages of his logarithmic tables frayed hurrying than the substitute of the pages. Newcomb concluded the archetypical digit is oftener 1 than either other digit. Newcomb quantified the probability of the occurrence of the distinct digits as being the first digit and as good as the second digit.

For the most part, Newcomb just considered it a speciality and left field it at that. (Caldwell 2004) In the 1920s, a physicist at the GE enquiry Laboratories, Frank Benford, thought it more than a curiosity and conducted extended testing of naturally occurring data and computed the expected frequencies of the digits. In predominate over 1, there is a table of these expected frequencies for the first fo...If you command to get a full essay, order it on our website: OrderEssay.net

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