How to do Monetary Unit Sampling (MUS) with the DQ Assistant?

With the DQ Assistant, you can easily perform a Monetary Unit Sample (MUS).

Go to 'Sampling' and click on 'MUS':

In the DQ Assistant, a new window opens which is greyed out until the columns in scope are selected:

After selecting the columns in scope, the user can enter all necessary information:

Primary key column: The relevant column to identify the sample randomly selected (i.e., ideally a column with nominal account numbers or similar)
Value column: Column with €/$ values
Population value: Sum of the 'Value column'
Tolerable Misstatement: Absolute value.
- Tolerable Misstatement is the highest amount of monetary error allowed in an account balance that, when combined with errors in other accounts, does not result in the financial statements being materially misstated. Determining tolerable misstatement involves considerable auditor judgment.
- The key input for determining the sample size is the tolerable rate of misstatement, which is calculated by dividing the Tolerable Misstatement by the total dollar value of the population. The tolerable rate of misstatement and the required sample size are inversely related.
Population Exception Rate: Percentage.
- The Population Exception Rate represents the expected rate of exceptions within the population. For instance, if an auditor sets the Population Exception Rate at 5% and the total recorded population value is $100,000, this indicates an expectation that $5,000 of the recorded value may be misstated. The Population Exception Rate is directly related to the sample size and must be significantly lower than the Tolerable Misstatement rate. As the Population Exception Rate approaches the Tolerable Misstatement Rate, the required sample size increases substantially, potentially making it impractical.
Acceptable risk: Percentage.
- Acceptable Risk is the highest level of risk an auditor is willing to accept of mistakenly concluding that the population is not materially misstated, even though the actual misstatement exceeds the Tolerable Misstatement. While Acceptable Risk should generally be set at a low level, the precise value can be influenced by various factors, such as the overall acceptable audit risk and the outcomes of control tests and other substantive procedures (e.g., analytical procedures) conducted on the account. Determining Acceptable Risk requires substantial auditor judgment.
- Note: In an "Extended view" of the MUS calculation, acceptable risk/required trust can be calculated via different parameters

The size of the sample will then already be shown in the Add-in window (in the example below, 39).

The monetary unit sample will be shown on a separate sheet. In addition, the user can optionally color the selected items in the original sheet (and perform a projected misstatement):

After clicking on "Sample", the result will be shown on a separate sheet (sample incl. an overview of the main input factors). The columns that have been selected in the original sheet will also be shown on the results sheet:

If the option "Color sample in original" has been selected, the respective items will also be colored in orange in the original sheet (in the example below, filtered for orange color):