Overview

Advanced Audit Sampling is a specialized practical course designed for experienced auditors and audit professionals who need to apply sophisticated sampling techniques to complex audit assignments. The course covers advanced statistical and non-statistical methods, risk-based sample design, probability-proportional-to-size sampling, monetary unit sampling, sampling risk, sample-size optimization, evaluation of misstatements, and the use of data analytics in audit sampling.

Target Participants

This course is suitable for:

• Senior internal and external auditors
• Audit supervisors and managers
• Audit partners and team leaders
• Risk and compliance managers
• Forensic auditors
• Government and public-sector auditors
• Financial controllers and senior accountants
• Internal control specialists
• Audit quality and assurance professionals

Course Objectives

By the end of the course, participants will be able to:

1. Apply advanced principles of statistical and non-statistical audit sampling.
2. Design risk-based sampling strategies for complex audits.
3. Determine appropriate sample sizes using multiple risk and assurance factors.
4. Apply Monetary Unit Sampling (MUS) and Probability-Proportional-to-Size (PPS) techniques.
5. Use stratification to improve sampling efficiency and audit coverage.
6. Evaluate sampling risk and determine its impact on audit conclusions.
7. Project sample errors and evaluate the implications of identified misstatements.
8. Apply sampling techniques to tests of controls and substantive procedures.
9. Handle exceptions, deviations, unusual items, and high-risk transactions.
10. Integrate audit sampling with data analytics and automated audit procedures.
11. Document advanced sampling decisions and professional judgments.
12. Evaluate whether sample results provide sufficient appropriate audit evidence.

Course Outline