Audit Staff Essentials - Experienced Staff or New In Charge: Understanding the Concept of Sampling
Sufficient sampling is imperative to an audit. Experienced audit staff can explore sampling in detail.
Format
Online
NASBA Field of Study
Auditing
Level
Intermediate
CPE Credits
1.5
Author(s)
AICPA and CIMA staff
Availability
1 year
Product Number
ASE3SAM126SSO
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Determining sample size
Learning how to determine sufficient sample sizes that meet audit planning needs is an important part of your role as an experienced auditor. You can gain an understanding of this concept by examining topics, such as:
- Sampling basics
- Attribute sampling
- Determining a defensible sample size
- Dual-purpose testing
Testing controls
You can also learn more about other sampling topics related to controls, including:
- Designing and implementing controls over financial reporting
- Opportunities for engagements to use reliance on controls
Substantive testing overview
Understanding the principles of substantive testing will help you in your audits. You can further your knowledge in several areas, including:
- Substantive tests of detail
- Monetary unit sampling (MUS) concepts
- Commonly used sampling techniques
Who Will Benefit
- Experienced staff
- New in-charge auditors
- Firms that want consistent training and level setting
Key Topics
- Basic terms and concepts in sampling
- Attribute sampling for tests of controls
- Determining the sample size
- Methods to compute attribute sample sizes
- Performing audit procedures
- Sample evaluation
- Documentation
Learning Objectives
- Identify the basic terms and concepts that are common to all samples and the relationships between key factors and sample sizes.
- Apply attribute sampling to meet stated controls testing audit objectives and determine defensible sample sizes.
- Identify the key points relating to evaluating and documenting sampling results.
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