Limited Period Access to myCPE Prime Unlimited CPE Access starting at $199. Subscribe Now

Sampling - Avoiding Common Mistakes On Financial Statement And Compliance Audits

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: August, 2021

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Audit Sampling Defined
    2 mins
  • Tests of Controls Risk
    14 mins
  • Tolerable Rate of Deviation
    23 mins
  • Mistakes in Estimating Population Sequences
    38 mins
  • Statistical Sampling
    55 mins
  • Common Sampling Quality Control Deficiencies
    97 mins

Course Description

Sampling is an important method for determining the extent of testing controls, testing compliance, and tests of substantive details. It allows the auditor to apply procedures to less than 100% of the population yet extend results to project likely conclusions about the entire population.

This Online CPE webinar will describe the proper process for both attribute testing and variable sampling in financial statements and compliance audits. The webinar will cover how you can avoid common mistakes in financial statements, compliance, and audits. It will also discuss various types of sampling applications to ensure a better quality of services. To do that the webinar will help you identify Generally Accepted Audit requirements for sampling applications. It will also help you differentiate between various sampling techniques. It will also provide special considerations for sampling while servicing compliance and single audit engagements. The webinar will also discuss certain proficiencies that you commonly see while designing and performing sampling applications on different types of engagements.

This Online CPE webinar covers the following Major Topics:

  • Types of sampling and sampling risk
  • Differentiating statistical and non-statistical sampling approaches
  • Attribute testing for tests of controls and compliance
  • Variables sampling for substantive audit assurance when performing tests of details
  • Determining sample sizes in a compliance audit in conformance with Uniform Guidance


In this webinar, the speaker Jennifer Louis takes a comprehensive approach by covering the most relevant topics.

Click to access more webinars on Accounting & Auditing | Trust & Estate Planning CPE Webinar

Learning Objectives

  • To discover and discuss generally accepted audit requirements related to sampling applications.
  • To recognize various attributes testing for tests of controls or compliance from sampling for substantive assurance in tests of details.
  • To differentiate between various attribute testing for tests of controls or compliance from sampling for substantive assurance in tests of details.
  • To explore special considerations related to testing in compliance audits performed in accordance with Uniform Guidance.
  • To identify common sampling-related audit deficiencies and how to avoid them.

Recommended For

  • Accountants who are responsible for applying sampling methods on a financial statement or compliance audits.
  • This Online CPE/CE webinar is recommended for CPAs, CMA, CFE, CIA, CRMA, and Other Professionals who desire to ensure the quality of financial statements and compliance audits

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2.5 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2.5 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2.5 CE Credit for Certified Wealth Strategist (CWS)
  • 2.5 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 2.5 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2.5 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2.5 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2.5 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

Additional details

  • Course Level :
    Basic
  • Credits :
    2.5
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

3.3

6 Ratings

Excellent

1

Very Good

2

Average

1

Poor

2

Terrible

0

cookies_image

We use cookies to make your experience on this website better