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Audit Sampling Techniques

Biweekly on Mondays at 10:00 a.m. Central Time in one CPE event

 

Ensure Audit and Quality Testing Consistency.

For auditors, choosing and applying the appropriate sampling method is crucial in performing an efficient and effective audit, quality assessment or control test.

This event was developed to help the auditor, compliance assessor or quality tester in determining appropriate sample sizes, as well as selection and evaluation of samples in conjunction with performing auditing procedures.

The focus of this session includes both non-statistical methods and statistical sampling techniques.

 

Also included are case studies to help the audit professional apply these methods and establish best practices.

This timely, half-day CPE training seminar is designed for the auditor and others who have to draw conclusions based on samples from a population of items.

 

Learn how to validate a population, create an effective audit sample, analyze the sample, generate work-paper documentation, and effectively conclude concerning the audit testing results.

The retail cost of the online 4 CPE internal auditor training event is $240 per attendee.

Each attendee will receive 4 CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 2, based on 50 minutes of instruction per hour

CPE Event Highlights

The seminar reviews and answers the following questions:

  • What types of sampling and sampling risk do auditors encounter?

  • How to test attributes using a sample for testing of internal controls and compliance?

  • How does variable sampling for substantive assurance work?

  • What are the differences between statistical and non-statistical sampling approaches?

  • How does the auditor determine sample sizes?

 

Learning Objectives

  • Identify the basic terms and foundational concepts of audit sampling.

  • Describe various sampling methods and how to determine the most appropriate sampling technique to properly align with the given test population.

  • Determine sample sizes using various sampling methods and evaluate sample results.

  • Recognize the relationship of substantive detail sampling to the risk of material misstatement and other substantive audit procedures.

  • Recognize the audit implications of factual misstatements identified in sampling and non-sampling procedures.

  • Recognize the audit implications of projected misstatements from sampling procedures.

 

Key Issues on the Agenda

Introductions
Section 1 - Overview of Auditing and Internal Controls

Section 2 - The "Audit Testing" Process
Section 3 - The Role of Audit Sampling
Section 4 - Audit Sampling Concepts
Section 5 - Details of Statistical Attributes Sampling
Section 6 - "Non-Statistical Attributes" Sampling
Section 7 - Details of "Variables" Sampling
Section 8 - Internal Control Testing
Section 9 - Concluding the Audit
Section 10 - Summary