Auditors many times do little sampling as part of an audit as the result of a common misconception that sampling must be statistical. However, there are audit efficiencies that can be gained by considering the use of Nonstatistical sampling techniques and applications. Understanding how to design these application can improve efficiency and maintain effectiveness. This program illustrates the guidance in the current AICPA Audit Sampling Guide using a case study approach.
Course ID: NSE2
Nonstatistical Sampling for Efficient Audits
- Participants will be able to select, perform, and evaluate samples.
- Requirements under the risk assessment standards
- Planning nonstatistical procedures
- Sampling when testing controls and when performing substantive tests
- Sampling techniques
- Determining sample sizes
- Use of probability proportional to size sampling
- Sampling error evaluation problems
- Documentation requirements
DESIGNED FORCPAs in public practice.
FIELD OF STUDY