Description

Learn how to determine appropriate sample sizes, select and evaluate samples in connection with performing auditing procedures. This course uses examples and case studies to give experience performing and evaluating samples using several important techniques such as attribute sampling for controls testing and Monetary Unit Sampling for performing substantive tests. You will learn the situations where various substantive sampling procedures are the most appropriate. The use of sampling in special situations, such as estimating amounts and in litigation support, will also be discussed. An example of applying classical variables sampling to an audit population will also be illustrated and explained. While the course focus is on non-statistical methods, the statistical basis of these methods will be used in illustrations.

Highlights

• Testing assertions
• Selecting a representative sample
• PPS sampling
• Non-statistical sampling
• Hands-on exercises and case studies

Objectives

Upon completion of this course, participants will be able to:
• Relate Risk of Material Misstatement and Sampling Risk
• Control and evaluate sampling risk
• Use sampling to meet audit objectives
• Select a representative sample
• Use a sample to estimate misstatement in a population
• Use PPS sampling to test a recorded monetary amount