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This workbook should be used when information is obtained electronically and there are many
lines of data. However, since Excel holds only 1,048,576 lines of information, if the population
being sampled has more than 1,048,576 lines of data, Excel cannot be used.
Further information on this sampling technique is detailed in the AAM Topic 5410 Perform test
of details and Topic 5410A Audit sampling methods and techniques.
HOW DO I USE THE MUS WORKBOOK?
The following will walk through the contents of the MUS Workbook by exploring each tab
within the workbook: MUS CalculationsFigure 5410.1 tab, and MUS Selections tab.
Guidance tab
The screen below is a snapshot of the Guidance tab in the MUS Workbook. To obtain an
accurate sample, follow the instructions exactly as described; even a slight deviation can lead to
inaccuracies.
TIPS! It is essential to use a blank MUS Workbook each time you do Monetary Unit Sampling.
You should not copy a prior years MUS Workbook or use a MUS Workbook from another audit
section; this is because a used MUS Workbook may be outdated or formatted specifically for the
existing sample (e.g., number of rows). It is much easier to start your Monetary Unit Sample
with a new MUS Workbook each time.
Before you enter the lines of data, you must prepare the data to enter it into the worksheet.
Ensure there are only three columns of data and determine the number of rows of data you have.
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This depends on the population related to the risk you are testing. Example populations may be:
A detail of customers and their account balances for testing the risks identified in
accounts receivable.
A check register of payments made for testing the risks identified in accounts payable or
bank reconciliation.
A detail of payroll expenses by employee.
For more information on populations, refer to Performance SupportTests of Details.
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Whatever population you use to address the risk being tested, you must be sure to use only
the positive items in the population. Negative items must be removed and tested separately.
Next, determine the columns that will be input into the worksheet since the data cannot be
more than three columns wide.
Below is an example of accounts receivable detail that could be used for testing the risks
identified.
Now you need to determine the number of rows required in the worksheet. As illustrated earlier,
the worksheet has only four rows at the moment and you are likely to have more than four rows
of data. To continue with the example of inventory, below is the data that was used to make
selections for inventory testing to test the risks identified.
As you can see, there are many lines of data, 40 rows to be exact. You need to copy each line of
data into the MUS Workbook in the white area previously shown. Before you can do this, you
need to add rows.
Add the number of rows you need (as shown above) and you will be ready to copy the data.
(You can even add a few extra rows just to be on the safe side!)
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Once you have entered the correct number of rows, copy the data from your population file, and
paste it into the white cell area that you just created. When copying data:
Make sure the data you want to copy is no more than three columns wide. It should
typically contain an ID Number, Description, and Amount.
Put the first line of data into the first row of white cells next to Item #1.
Do not copy column headings or the total when you copy data. Only the individual data
lines should be copied to the white cells in this tab.
Watch for hidden columns or rows in the population file.
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When you have copied the data, your tab should look like this:
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Once the MUS reconciliation balances, press the Retrieve Selections button in order to
automatically list the selections on the MUS Selections tab.
Once your selections are made, you are ready to begin testing. Notice how all items > sampling
interval are automatically selected for testing.
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Will the sample size calculated in the MUS Workbook always be the same as when
calculated manually?
No, not always! This is because the MUS Workbook uses a random start number and selection
remainder. Depending on your random start number, you might get a different sample size to test
to address the risk identified. Your number of selections will always be the same but as some
selections count for more than one selection the actual number of items you get to test may vary.
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