Statistical Sampling for Tests of Controls Section G: Necessary Discussion on Selecting Your Sample - eLearning
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This e-learning module will explore how to pull your sample in a way that doesn’t introduce bias and how to test it for representativeness.
Course Module available for 30 days after purchase.
Choosing the right sampling method can be undermined by selecting a biased sample and consequently open your audit findings to attack.
In this module we will outline the characteristics of the five recognised selection techniques – what they are, how to use them on your audits and when it’s appropriate to use them. The pros and cons of each of the five techniques will be identified and you will learn how to pull your sample without bias.
You will also explore how to ensure your sample is representative of the population and how to use EZ-Quant freeware as a random number generator.
At the end of this activity you will be able to:
- Recognise the differences between sampling types and selection techniques, noting that not every selection technique is appropriate for every sampling type.
- Identify the five accepted selection techniques and how to apply them on audits.
- Identify when it is appropriate and when it’s not appropriate to use each of the five selection techniques.
- Complete a work paper to test your sample for representativeness.
- Use the EZ-Quant freeware as a random number generator.
BenefitsYou will understand the five selection techniques available to you and be confident in choosing the right technique to ensure that your statistical sample is robust, unbiased and therefore reliable for forming your conclusions.
Topic: Audit & Assurance
Sub-Topic: Financial Statement Audit, Internal Audit
Proficiency Level: Foundation, Intermediate
CPD: Upto 1.25 hours