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Sampling - Avoiding Common Mistakes On Financial Statement And Compliance Audits

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


  • 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.

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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.

Who Should Attend?

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