Audit 207: Sampling – Avoiding Common Mistakes on Audits (2 hours)

Overview

Sampling - Avoiding Common Mistakes on Financial Statement and Compliance Audits will describe the proper process for both attribute testing and variable sampling in financial statement and compliance audits. Sampling is an important method for determining the extent of testing controls, testing compliance, and tests of substantive details. It allows the auditor to apply procedures to less than 100% of the population yet extend results to project likely conclusions about the entire population. Note: This course is recommended as a part of a 16-hour audit skills curriculum for experienced staff auditors, while it is also appropriate for anyone who has sampling responsibilities. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this course include:

Types of sampling and sampling risk
Differentiating statistical and nonstatistical sampling approaches
Attribute testing for tests of controls and compliance
Variables sampling for substantive audit assurance when performing tests of details
Determining sample sizes in a compliance audit in conformance with Uniform Guidance

Designed For

Accountants responsible for applying sampling methods on financial statement or compliance audits

Objectives

Upon completion of this course, you will be able to...

Identify generally accepted audit requirements related to sampling applications
Differentiate attribute testing for tests of controls or compliance from sampling for substantive assurance in tests of details
Recall special considerations related to testing in compliance audits performed in accordance with Uniform Guidance
Identify common sampling-related audit deficiencies

Notice

“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!