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AICPA Audit Guide: Audit Sampling

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    AICPA Audit Guide: Audit Sampling Online Access Product #: WAS-XX
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    Non-Member: $89.00

Considered the industry-standard resource, AICPA Audit Guide: Audit Sampling summarizes applicable requirements and practices and delivers "how-to" advice to help auditors apply non-statistical and statistical sampling. Updated as of May 1, 2017, this guide is an indispensable resource packed with information on sampling requirements and methods.

This guide features case studies illustrating the use of different sampling methods, including classical variables sampling and monetary unit sampling, in real world situations. Specifically, we include in an appendix a detailed case study of the application of classical variables sampling with the use of software. The appendices also include sampling tables and similar tools, as well as other sampling considerations, such as clarification surrounding sample sizes.

Key Features

This guide provides the following:

  • An overview of the audit sampling process and the various approaches to audit sampling
  • Guidance on the use of nonstatistical and statistical audit sampling for tests of controls and substantive test of details
  • Guidance on sampling techniques
  • Case studies to demonstrate the application of covered guidance
  • Sampling tables and tools to effectively execute sampling methods

Who Will Benefit?

  • Auditors of all firm sizes serving all industries

About the Authors

Lynford Graham, CPA, Ph.D., CFE

Lynford Graham, CPA, Ph.D., CFE is a CPA with more than 35 years of audit practice and policy development experience. He is a visiting professor of accountancy at Bentley University in Waltham MA. Dr. Graham is a member of the AICPA and a past member of the Auditing Standards Board. He chaired the task forces for AICPA Guides Assessing Audit Risk and Audit Sampling. He is also the chair of the Auditing Revenue Task Force for the AICPA Guide on Revenue Recognition.

He was a partner and National Director of Audit Policy for BDO, LLP. Prior to that, Dr. Graham was an associate professor at Rutgers University. Before Rutgers, he was a national accounting and SEC consulting partner at Coopers & Lybrand, responsible for technical issues research, auditing research, and sampling.

A Certified Fraud Examiner, in 2002, he received the Distinguished Service Award from the auditing section of the AAA. He is a co-author of several award-winning academic research papers. Dr. Graham holds an MBA and Ph.D. from the University of Pennsylvania, (Wharton School). He is the editor of Accountants' Handbook, 12th Edition (Wiley, 2012) and Internal Control: Audit and Compliance (Wiley, 2015).

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the worlds largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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