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Surgent’s Essentials Of Audit Sampling (SSAA709/24)

Event Description

When performing an audit, an auditor bases his/her opinion about whether the financial statements are free from material misstatement on a variety of tests on the underlying account balances and classes of transactions. Some balances, such as debt, may be tested 100% but more often, such as is the case with accounts receivable, the auditor will use sampling applications to obtain sufficient evidence to support the opinion and will not test 100% of the population. The auditor will also use sampling when testing control activities to conclude on the effectiveness of the controls. Compliance and accuracy in the accumulation of information is also tested by sampling. This module explores the different sampling applications used in a financial statement/compliance audit. (Please Note: This module is part of Surgent’s Audit Skills Training: Level 1.)

Designed For

Auditors of all levels


Discuss the professional requirements related to sampling applications Differentiate attribute testing for tests of controls or compliance from variable sampling for substantive testing Explain special considerations related to internal control and compliance testing in a Single or Program Specific Audit

Major Subjects

Types of sampling and sampling risk Attribute testing for tests of controls and compliance Variable sampling for substantive assurance Differentiating statistical and nonstatistical sampling approaches Determining sample sizes in a compliance audit