How does it calculate the sample size?

It uses a standard statistical formula for the confidence level you choose (90, 95, or 99%) and treats materiality as the margin of error, then adjusts for the size of your population. The defaults are 95% confidence and 5% materiality.

Is the sample random?

Yes. It selects the items at random with a fixed seed, so running the same file with the same settings returns the same sample, which helps when a reviewer wants to reproduce it.

Which processes does the control matrix cover?

Revenue, procurement, and payroll each come with three common risks and matching controls, such as three-way match for revenue, duplicate invoice detection for procurement, and HR to payroll reconciliation for payroll. Any other process you name is added with its risk and control marked to be assessed.

It does not perform the audit, test controls against your records, or give audit or financial advice. Its output supports your audit work, and a licensed CPA or qualified auditor should make the audit and compliance decisions.

AI Audit Assistant

Attach a population of transactions or name the processes you are testing. Get an audit sample size with the selected items, or a starting risk and control matrix, in the chat.

Calculate

confidence

materiality,

Tap a field to fill it in

Nothing sends until you start, and you can change anything afterwards.

What you get

Text in the chatCopy it wherever you need it. Keep chatting to adjust the tone, length, or wording.

How it works

Attach the population as a CSV and name a confidence level and materiality, or name the business processes you want a control matrix for.
askROI's Finance audit support tool runs its sampling or matrix script and reports back in the chat: the population size, the required sample, and the selected items, or each process's risks with the control, control type, frequency, and a not tested status.
Copy the results into your workpapers, or keep chatting to change the confidence level, run another file, or add a process.

What people use it for

Sample sizingwork out how many items to test from a population at 90, 95, or 99% confidence and a materiality you set.
Random selectionpull the sample from your own list of transactions, invoices, or claims instead of picking by hand.
Control matricesstart a risk and control matrix for revenue, procurement, and payroll with three common risks each.
Testing plansevery control starts marked not tested, so the matrix doubles as a list to work through.

Questions

How does it calculate the sample size?: It uses a standard statistical formula for the confidence level you choose (90, 95, or 99%) and treats materiality as the margin of error, then adjusts for the size of your population. The defaults are 95% confidence and 5% materiality.
Is the sample random?: Yes. It selects the items at random with a fixed seed, so running the same file with the same settings returns the same sample, which helps when a reviewer wants to reproduce it.
Which processes does the control matrix cover?: Revenue, procurement, and payroll each come with three common risks and matching controls, such as three-way match for revenue, duplicate invoice detection for procurement, and HR to payroll reconciliation for payroll. Any other process you name is added with its risk and control marked to be assessed.
What does it not do?: It does not perform the audit, test controls against your records, or give audit or financial advice. Its output supports your audit work, and a licensed CPA or qualified auditor should make the audit and compliance decisions.