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Statistical Sampling for Tests of Controls Section E: Two Step Statistical Sampling Method


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 Two Step sampling method, also known as Stop and Go attribute sampling.

Course Module available for 30 days after purchase.

About

Content Description

The Two Step, or Stop and Go, approach is not so widely known, but is desirable since it generates small sample sizes and allows the auditor to make a call early in the audit process about whether to stop or go with testing.

In this module you will explore the assumptions applicable to the Stop and Go sampling method and determine when to apply this method in an audit context.

You will learn how to perform this method using the EZ-Quant software and explore some sensitivity analysis when changing your sampling parameters in keeping with the level of risk you are willing to accept.

Learning Outcomes

At the end of this activity you will be able to: 
• Explain the Two-Step (Stop and Go) sampling 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 know when and how to apply the Two Step 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