What percent of an employee's work should be reviewed/audited?

I work a job where I am expected to complete x amount of tasks daily. It involves data entry, data analysis, and other administrative/accounting tasks for many clients. All of my tasks are done by myself unless I have a question. There are no group projects, and there is no managerial oversight except for making sure we are hitting our goal numbers. Ever quarter there is an audit of my work. Only 10 out of 3857 tasks minimum are reviewed, a percentage of 0.2%, and you have to reach 90% average on all 4 audits to recieve a pay increase. The only other oversight is from peers, if they catch any of my mistakes and bring it to my boss' attention.

My question: is this too little oversight for employees and is my employer being fair with pay raises?

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