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. 

Agenda:

• Background (pg5)
• Types of Testing – Financial Statements (pg13)
• Planning (pg19)
• Selecting a Sample (pg60)
• Evaluating Results (pg78)
• Demo (pg92)