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Understanding the Concept of Sampling (On-Demand) 2020v2

Description

Learn how to determine sample sizes that are demonstrably sufficient to the audit planning needs. Understand how attention to the design and implementation of internal controls over financial reporting can lead to improvements in engagement controls and create opportunities for engagements to use reliance on controls as a more efficient approach for the audit strategy.

Learn how to determine a defensible sample size for tests of internal controls and for substantive tests of detail, including dual-purpose testing. Understand the principles of substantive tests of detail and the application of monetary unit sampling concepts, or MUS, the most commonly used sampling technique.

Format: Audio, Video, Interactive Elements

 

Learning Objectives
  • Recall the role of the audit risk model in sampling procedures.
  • Identify the basic terms and concepts that are common to all samples and recognize their relationships.
  • Apply attribute sampling to meet stated controls testing audit objectives, determine defensible sample sizes, and evaluate sample results.
  • Identify the key points to evaluating and documenting sampling results.
Major Topics
  • Basic Sampling Terms and Concepts
  • Sampling Economics
  • Attribute Sampling for Tests of Controls
  • Methods to Compute Sample Sizes
  • Sample Evaluation
Provider
AICPA - Durham
Course Level
Intermediate
CPE Field of Study
Auditing
1.5
Who Should Attend

Experienced Staff
New In-Charge Auditors

Prerequisites

None.

Advanced Preparation

None.

Purchase Now
When
Available 24/7
Location
Online
Total CPE Credits
1.5
Format
On-Demand

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Understanding the Concept of Sampling (On-Demand) 2020v2


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