Auditors can save vast amounts of time by applying the concepts of audit sampling to their audit engagements. The Guide to Audit Sampling course explores the circumstances under which sampling can be used, how to properly set the parameters for sampling, determine the correct sample size, and examine the results. Following the guidance in this audit CPE course can improve one's audit efficiency, while avoiding incorrect judgments regarding client misstatements.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the different types of audit sampling.
Identify the characteristics of statistical and nonstatistical sampling.
Specify the different types of risks associated with auditing.
Recognize the issues associated with extracting a sample from a population.
Identify the efficiencies that can be gained while conducting audit sampling.
Identify the topics to include in the documentation of audit sampling.
Specify the indicators of fraud that may appear during audit sampling.
Recognize the circumstances under which a misstatement is extended to an entire population.
Specify the factors that can alter the size of a sample.
Major Topics
Key Terminology
Characteristics of Audit Sampling
The Audit Sampling Process
Audit Sampling in Tests of Controls
Sampling for Substantive Tests of Details
Monetary Unit Sampling
Classical Variables Sampling
