Catalogue

Description

This course will be an overview of:

• Determining the extent of further audit procedures.
• Substantive audit sampling techniques and tolerable misstatement.
• Audit implications of substantive test results.
• Communications with management and governance.
• Techniques for substantive detail test sampling.
• Monetary unit sampling Selecting a PPS sample.
• Differentiate MUS from other sampling methods.

After completing this course, the learner should be able to:

• Recognize the relationship of substantive detail sampling to the risk of material misstatement (RMM) and other substantive audit procedures.
• Recognize the audit implications of factual (known) misstatements identified in sampling and non-sampling procedures.
• Recognize the audit implications of projected misstatements from sampling procedures.
  Recognize how to select a valid item-based or probability proportional to size (PPS)-based statistical sample.