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Statistical Sampling for Tests of Controls Section F: The Discovery Statistical Sampling Method



This activity is presented by Audit Smarter.

To confirm the member price please use the discount code camember5pc.

Note: It is assumed that you are familiar with the content of the modules Statistical Sampling Tests of Controls Section B: Statistics and Tying Sample Size to Audit Risk and Statistical Sampling Tests of Controls Section C: Multiple Statistical Sampling Methods before commencing this module.


This e-learning module will build your understanding of the Discovery sampling method if you need to test for fraud.

Course Module available for 7 days after purchase.

About

NZ Members will be charged in Australian Dollars (AUD). The price of this e-learning module is $99AUD.

This is your ‘go to’ method if you need to test for fraud and draw conclusions that assert that no fraud has occurred. However, you need to understand the assumptions and their impact on your workload before deciding to use this approach.

In this module you will explore the assumptions applicable to the Discovery sampling method and when to apply this method in an audit context.

You will learn how to perform this method using the EZ-Quant software and explore some sensitivity analysis when changing your sampling parameters in keeping with the level of risk you are willing to accept.

Learning Outcomes
At the end of this activity you will be able to: 
  • Define appropriate usage of the Discovery sampling method.
  • Determine if this method fits your audit population. 
  • Perform scientific projection of errors to the population. 
  • Conduct sensitivity analysis to see the effect of changing the planning parameters. 
  • Interpret results and write up conclusions.

Benefits
You will understand and apply the Discovery sampling method when your objective is to test for fraud.

EVENT DETAILS


Topic: Audit & Assurance, Business Mindset

Sub-Topic: Financial Statement Audit, Internal Audit

Format: eLearning

Proficiency Level: Foundation, Intermediate

CPD: Upto 1 hours