Guide to Audit Sampling ON DEMAND
Available Until
Your Desk
3.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
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.
Highlights
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.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, and other accounting professionals.
Objectives
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.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00