MindBridge named in Gartner Autonomous Accounting Hype Cycle
Logo of MindBridge

Erik McBain, CFA

big data analytics in auditing

The auditor’s fallacy: The law of small numbers

Humans have used simple statistical sampling for millennia to make generalized sense of the world around us. Living in a resource-constrained world, statisticians gave emperors, surveyors, and accountants a simple workaround to the prohibitively intensive process of counting, checking, and validating everything. Sampling is the selection of a subset (a statistical sample) of individuals from

Read More »