2024 A Guide to Sampling - Part 1

Overview

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.

Highlights

• Sampling
• Monetary Unit Sampling

Prerequisites

None

Designed For

Accounting professionals

Objectives

• Identify when a procedure requires sampling
• Recall key elements of a sampling plan
• Recognize proper application of AU-C 530 for tests of details
• Perform MUS sampling 

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.