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Statistical Sampling for Tests of Controls


This 8 part e-learning program focuses on how you can use statistical sampling techniques to reduce your sample sizes, and at the same time increase the reliability of your results. The skills in all of the modules apply to the fields of both internal and external audit.

Course is available for 120 days after purchase.

About

Content Description

Many auditors avoid statistical sampling, instead taking judgement samples that are bigger than the statistical sample they could have taken, and leaving them unable to project the results to the population. While other auditors who are using statistical sampling choose the wrong method for their audit objective.

In this program you will learn statistical sampling in an audit context, specifically addressing tests of controls. You will utilise a proven, freeware package which allows for easy sample planning and evaluation.

You will learn the skills to choose the right statistical sampling method for your audit objective from multiple sampling methods available and the ability to address and quantify the impact of risk on your sample size.

Learning Outcomes

At the end of this activity you will be able to: 
• Calculate statistical sample sizes smaller than judgement sample sizes. 
• Distinguish between multiple sampling methodologies available based on your audit objective. 
• Perform the desirable but underutilised ‘Stop & Go’ sampling method generating smaller sample sizes. 
• Apply a decision tree to match the sampling method to your audit requirements. 
• Utilise the 13 easy steps of sampling. 
• Relate risk to sample size, at the individual assertion level. 
• Perform sensitivity analysis to see the impact of parameters on sample size. 
• Comply with promulgated internal and external audit standards for sampling procedures. 
• Apply multiple methods for drawing your sample. 
• Perform scientific projection of errors to the population 
• Form reliable and defendable audit conclusions.

Benefits

This program equips you with the knowledge and skills to gain efficiencies with sampling by correctly tying risk to your sample size, and by utilising a freeware tool, make strong, statistically and legally defendable audit conclusions about the entire population.

This activity is presented by Audit Smarter.

Course is available for 120 days after purchase.

EVENT DETAILS


Topic: Audit & Assurance

Sub-Topic: Internal Audit

Format: Self-paced

Proficiency Level: Foundation, Intermediate

CPD: 8.5 hours