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CPE Self-Study
Audit Sampling
NASBA FIELD OF STUDY
Auditing
LEVEL
Intermediate
CPE CREDITS
Online: 9.5, Text: 8.0
Developed to help you determine appropriate sample sizes, as well as selection and evaluation of samples in conjunction with performing auditing procedures

CPE On-Demand
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Product details

Ensure audit consistency.

Who Will Benefit?

  • CPA staff (and above) who perform audits
  • Internal auditors
  • Other industry accountants interested in applying sampling techniques

Key Topics

  • Attribute sampling for control testing
  • Monetary unit sampling for performing substantive tests
  • Relating risk in material misstatement and sampling risk Controlling and evaluating sampling risk
  • Selecting a representative sample
  • Using PPS sampling
  • Nonstatistical sampling

Learning Objectives

  • Identify the basic terms and foundational concepts of audit sampling.
  • Describe various sampling methods and how to determine the most appropriate sampling technique to properly align with the given test population.
  • Determine sample sizes using various sampling methods and evaluate sample results.
  • Recognize the relationship of substantive detail sampling to the risk of material misstatement and other substantive audit procedures.
  • Recognize the audit implications of factual misstatements identified in sampling and non-sampling procedures.
  • Recognize the audit implications of projected misstatements from sampling procedures.

For auditors, choosing and applying the appropriate sampling method is crucial in performing an efficient and effective audit.

This self-study course is developed to help you determine appropriate sample sizes, as well as selection and evaluation of samples in conjunction with performing auditing procedures. We cover important techniques and special situations, such as estimating amounts and litigation support. As well, we provide an example of applying classical variables sampling to an audit population.

Though the focus of the course is on nonstatistical methods, the statistical basis of these methods is used in illustrations. We have also included case studies to help you establish best practices.

Table of contents
Ratings and reviews
Author(s)

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).

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 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 specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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Price:
$189.00
Member Quantity:
Nonmember Quantity:
Quantity:
Estimated total:
$189.00
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CREDIT INFO
CPE credits
Online
: 9.5,
Text
: 8.0
NASBA Field of Study
Auditing
Level
Intermediate
Prerequisites
Some experience with auditing using sampling techniques
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
RAAS
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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