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Statistical Sampling for Tests of Controls Section B: Statistics & Tying Sample Size to Audit Risk


This activity is presented by Audit Smarter.

This e-learning module will build your understanding of some of the statistical concepts behind sampling.

Course Module available for 30 days after purchase.

About

Content Description

Despite the popularity of data analysis, sampling still has its place in the world of auditing, and if you plan correctly, you achieve the desired outcome – a smaller sample size with results that can be projected to the entire population.

In this module you will explore the underlying concepts necessary to perform statistical sampling and consider the implications of forming a wrong audit opinion. You will also compare judgement sampling against statistical sampling.

Learning Outcomes

At the end of this activity you will be able to: 
• Explain the elements you need to be able to perform successful statistical sampling. 
• Understand the risks of forming the wrong audit opinion. 
• Discuss the critical concepts underlying statistical sampling. 
• Tie audit risk to sample size. 
• Compare judgment sampling with statistical sampling.

Benefits

There are substantial advantages for getting your sample planning right. If you do it statistically, by quantifying your risks, you can generate smaller sample sizes and conclusions that project to the entire population.

This activity is presented by Audit Smarter.

Course Module available for 30 days after purchase.

EVENT DETAILS


Topic: Audit & Assurance

Sub-Topic: Internal Audit

Format: Self-paced

Proficiency Level: Foundation, Intermediate

CPD: 1.5 hours