Sampling is often identified as a common audit deficiency in peer review. This course will review when is sampling applicable and basics of planning a sample. We'll then focus on the application of sampling in financial statement audits with a look at sampling for substantive procedures. We'll look at the use of monetary unit sampling and tools that can be leveraged to reduce bias in sampling.
Product Code
1000005097-141207
Credit Type
CPE: 2
CPE-AA: 2
CPE-Technical: 2
Intended Audience
CPAs and other financial professionals preparing the type of work described.
NASBA Field of Study
Auditing
Level of Difficulty
Intermediate
Prerequisites
none
Advance Preparation
None
Learning Objectives
Understand the nature of analytical procedures
Design and implement analytical procedures for professional engagements
Understand the AICPA's guidance for utilizing analytical procedures in audit and review engagements
Major Subjects
Analytical procedures in audit and review engagements
Practical examples and illustrations of analytical procedures
The order of operations for accomplishing analytical procedures
Additional Details
This prerecorded broadcast is provided through our partnership with ACPEN. The Instructor will be available via the chat feature.