• Home
  • Statistical Sampling for Tests of Controls Section D: The Fixed Statistical Sampling Method for Tes

Statistical Sampling for Tests of Controls Section D: The Fixed Statistical Sampling Method for Tes


This activity is presented by Audit Smarter.

Note: It is assumed that you are familiar with the content of the modules Statistical Sampling Tests of Controls Section B: Statistics and Tying Sample Size to Audit Risk and Statistical Sampling Tests of Controls Section C: Multiple Statistical Sampling Methods before commencing this module.

Brief Description

This e-learning module will build your understanding of the most commonly recognised attribute sampling method, known as the Fixed sampling method.

Course Module available for 30 days after purchase.

About

Content Description

In this module you will identify when to apply the Fixed sampling method in an audit context. Most auditors apply this for any and all controls testing they perform, however we will identify the right circumstances in which to apply this method.

You will learn how to perform Fixed sampling on the EZ-Quant software and perform sensitivity analysis to demonstrate the effect of changing your sampling parameters in keeping with the level of risk you are willing to accept. Other options to explore when the Fixed sampling method produces large sample sizes will also be discussed.

Learning Outcomes

At the end of this activity you will be able to: 
• Relate the global usage of the Fixed sample method. 
• Determine if this method fits your audit population. 
• Perform scientific projection of errors to the population. 
• Conduct sensitivity analysis to see the effect of changing the planning parameters. 
• Interpret results and write up conclusions.

Benefits

You will understand when and how to apply the Fixed sampling method in an audit context, so that you can use the right sampling tool for the right job.

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: 1.25 hours