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Course Detail

Audit Sampling: A Comprehensive Guide to Effective and Efficient Sampling in Tests of Details and Tests of Controls  

CATEGORY: Accounting & Auditing
8 CPE Credits
Level: Basic

This webinar explains the use of sampling in an audit. The course incorporates PPC practice aids, and is focused on the PPC approach to audit sampling in both substantive tests and tests of controls. It provides a solid understanding of basic and advanced sampling topics, while staying focused on practical issues and efficiency considerations. Major topics include the following:

  • Alternatives to sampling and selecting appropriate tests
  • Using PPC’s Planning Worksheet to Determine Extent of Substantive Tests
  • The role of risk assessment in audit sampling
  • The factors that affect sample size and reliability

For tests of controls -

  • Selecting controls to test and defining deviations
  • Defining the period covered and the population
  • Calculating the sample size (large and small populations)
  • Selecting the sample items
  • Evaluating exceptions and responding to deficiencies
  • Evaluating results and the determining the appropriate level of reliance on controls
  • Defining the population and sampling unit

For tests of details -

  • Tolerable misstatement and individually significant items
  • Inherent risk, control risk, and other procedures risk
  • Calculating the sample size
  • Selecting the sample items
  • Evaluating sample results and determining the level of assurance achieved
  • Using PPC’s tools to plan the sample and evaluate results

Please see outline below for webinar break schedule.

Instructor: Sunish Mehta, CPA CGMA
Instructor assignments are fluid and subject to change.

Registration for this event has ended. Please either [search] for an open course or event or contact a salesperson at 844.245.5970 for more information or other options.

Accreditation Information

Learning objectives

Course outline