IA Professional Series - M09 - Audit Sampling (PDF)

VIDEO DEMO

BENEFITS OF THIS PDF DOCUMENT

1. Provides comprehensive sampling decision frameworks and statistical methodology including random, systematic, and stratified sampling techniques with step-by-step procedures ensuring defensible sample selection for any audit engagement.
2. Delivers complete sample size determination tools with attribute sampling tables, confidence level selection guidance, and finite population correction factors enabling appropriate sample sizes based on risk assessment and tolerable error rates.
3. Equips professionals with results evaluation frameworks including statistical projection techniques, error rate calculations, and stakeholder reporting templates with appropriate language for statistical versus non-statistical samples.

AUDIT MANAGEMENT PDF DESCRIPTION

This product (IA Professional Series - M09 - Audit Sampling) is a 50-page PDF document, which you can download immediately upon purchase.

The Internal Audit Professional Series is a comprehensive 18-module training program designed to transform internal audit professionals from foundational competence to strategic excellence. Developed and published by Business Excellence, a leading advisory and consultancy firm specializing in internal audit, risk management, corporate governance, and business strategy, this series delivers practical, actionable knowledge aligned with the Global Internal Audit Standards (GIAS 2024).

Module 9: Audit Sampling provides practical application and evaluation techniques for selecting, executing, and analyzing audit samples with statistical rigor and professional judgment. This module equips auditors with the complete methodology to conduct defensible sampling that supports reliable audit conclusions.

This module covers 7 comprehensive sections:

1. Sampling Decision Framework – Determining when to sample versus test 100% based on population characteristics, risk assessment, and resource constraints. Covers sampling risk concepts including risk of incorrect acceptance and rejection, method selection decision trees, and risk tolerance level determination with documentation requirements.

2. Non-Statistical Sampling Application – Applying judgmental sampling methods professionally including haphazard selection procedures with common mistakes to avoid, block sampling appropriate use and limitations, and critical documentation requirements for defending judgmental samples against challenge.

3. Statistical Sampling Methodology – Adding statistical rigor through random number generation procedures, systematic sampling design with interval calculation and pattern precautions, stratified sampling design with strata definition and allocation methods, and comprehensive selection documentation templates.

4. Sample Size Determination – Calculating appropriate sample sizes using attribute sampling tables with step-by-step usage guidance, confidence level and tolerable error rate selection based on risk assessment, population size considerations with finite population correction factors, and sample size calculation worksheets.

5. Sample Selection Execution – Implementing selection procedures through step-by-step protocols, sample item tracking logs, population verification procedures, and selection accuracy verification checklists.

6. Sample Results Analysis and Projection – Evaluating results through exception recording and classification, sample error rate calculation, statistical projection with confidence intervals, non-statistical sample evaluation frameworks, and response options when results exceed tolerable limits.

7. Workpaper Documentation and Reporting – Creating professional documentation with essential workpaper components, the stand-alone test quality standard, stakeholder reporting guidance for management, audit committee, and regulators, and appropriate report language for statistical versus non-statistical samples.

This module includes ready-to-use tools such as sampling decision frameworks, attribute sampling tables, sample size calculation worksheets, selection documentation templates, sample item tracking logs, error rate calculation formulas, statistical projection tables, and practical application checklists.

The Internal Audit Professional Series progresses through four levels: Foundation (Modules 1-5), Core Processes (Modules 6-10), Specialized Practice (Modules 11-14), and Advanced Application (Modules 15-18). Save significantly by purchasing the complete 18-module bundle.

Source: Best Practices in Audit Management PDF: IA Professional Series - M09 - Audit Sampling PDF (PDF) Document, Amer Morgan