Sampling is a critical means of determining the extent of testing for evaluating projected error or misstatement in financial statements, deficiencies in internal control, or noncompliance. 

This course provides insight into how to avoid common misconceptions and misapplications in various sampling applications.

Course Series

This course is included in the following series:

6 CoursesAn Auditor's Perspective on...

  1. Preparing Financial Statements - An Auditor’s Perspective on What Matters Most
  2. Independence Rules for CPA’s - An Auditor’s Perspective on Significant AICPA, Public Company, Governmental, and International Differences
  3. Designing and Performing Sampling Plans – An Auditor’s Perspective on Monitoring Internal Controls, Compliance, and the Reasonableness of Account Balances
  4. FASB ASC Section 205-40: Going Concern Uncertainty – An Auditor’s Perspective
  5. FASB ASC Topic 470: Debt – An Auditor’s Perspective on Common Balance Sheet Classification Issues
  6. FASB ASC Topic 820 Fair Value – An Auditor’s Perspective on Determining Fair Value of Non-Readily Marketable Investments
Learning Objectives
  • Discover how to select the most correct sampling method for the intended purpose of the procedure
  • Discover how to calculate the sample size for tests of controls, tests of compliance, and tests of details
  • Explore how to evaluate the results of sampling plans, including resolving discrepancies and projected misstatements 
Last updated/reviewed: March 28, 2024
46 Reviews (171 ratings)

Reviews

3
Anonymous Author
I wish there could be a mock account for example of inventory purchases that can be used to show us how all these sampling methods are applied to select what items to be tested; and therefore show us the impact on the selection when different method is used.

5
Anonymous Author
Jennifer delivers a ton of information, both at a high level and at the detail level. This is a great course both as a refresher and for new auditors to fully understand the logic purpose behind sampling methods and how they play into the audit process.

5
Anonymous Author
The is a very informative course. The way in which the concepts are presented is helpful and it is easy to understand. The instructor was engaging and was able to keep this interesting. This course could be useful across many levels of an organization.

4
Member's Profile
This course offers insightful discussion regarding sampling procedures - Covering a broad method of sample selection techniques and the basic principles and mathematicak considerations of each. Great course very well-presented!

5
Member's Profile
This is an excellent refresher course that I would recommend. It is a good suggestion to keep the slide materials for future reference and is also great for recertification of the CPP. I highly recommend this course.

4
Member's Profile
As I don't use statistics in my daily work, I would have appreciated more concrete examples of the sections being discussed. That said, this was a good overview of a topic that I don't use daily. Thanks.

4
Member's Profile
This course explains methods of audit sampling and goes into some of the mathematical methods of selecting sample size. Can be readily applied in the field. Very useful information.

5
Member's Profile
This was an informative and well-structured course. Instructor made it easy to understand. I recommend this course for someone who is looking for guidance on sampling plans.

4
Member's Profile
Good overview. I always like this instructor's courses. When explaining some of the examples it seemed a little rush. We could have used more time in this area.

4
Anonymous Author
This course provides valuable information to better understand sampling. It is also a good refresher for people who did audit but no longer in audit.

5
Member's Profile
This webinar was very educational. It helps to better understand the Audit Process that we have at yearend. Thanks for the education.

5
Anonymous Author
Good overview on sampling. It explained the different approaches and when they are appropriate. The instructor is a great presenter.

5
Member's Profile
Really great instructor, easy to follow even though the subject itself was a little challenging. Great examples and good slides.

4
Member's Profile
Specific techniques for creating samples. Very useful for auditors. Final test is very focus on specific targets and metrics.

5
Anonymous Author
This course provided a great overview of data sampling as well as many insightful considerations and relevant case studies.

5
Anonymous Author
I enjoyed the course because it provided good knowledge and was the information was presented in a clear and concise manner.

3
Anonymous Author
Good course if you are an auditing professional. For my purposes, payroll recertification, it was a bit too specific.

5
Anonymous Author
Thorough examination of sampling techniques. The PDF documents were a great visual presentation of the concepts.

4
Anonymous Author
Material very well presented & laid out. Not aware of the various sampling methods to obtain population tests/

5
Anonymous Author
This one was good. I very much enjoyed learning the content. I look forward to more courses by this instructor.

5
Anonymous Author
Very good course overall and I think this area is something that many IA departments sometimes struggle with.

5
Anonymous Author
Great update on audit sampling. The course provided great info on the different audit sampling methodologies.

5
Anonymous Author
I liked the presenters tone, word choice and rate at which she talked. It helped me to better follow along.

5
Member's Profile
Good reference for Sampling Selection in various scenarios. Well organized and good sequence of materials.

4
Anonymous Author
This was a really good overview of the different types of sampling methods and how to apply them

4
Anonymous Author
What a great and detailed course on sampling. Every professional will benefit from the training

5
Anonymous Author
I think the instructor does a great job explaining the information and providing good examples.

5
Anonymous Author
Ms Louis made the course simple and interesting. Good for novice auditors as well as seasoned.

5
Member's Profile
good wording, well explained on many factors of the formulas, easy to understand, nice webinar

5
Anonymous Author
Tough material to follow along at times, but the presenter did a good job with the material.

5
Anonymous Author
Fantastic description of the different sampling types, and review of sampling strategies.

5
Member's Profile
In my opinion, this is an outstanding course which every auditor should take. Excellent

4
Anonymous Author
Easy and clear to understand the instructor seem like she enjoyed talking about her topic

2
Member's Profile
This was not very relevant to payroll or HR, but is helpful for statistical evaluations.

5
Anonymous Author
Good introduction to sampling approaches with clear illustration of applied statistics.

5
Anonymous Author
This was new information for me, but I think it was well thought out and presented.

4
Anonymous Author
very good course about sampling Technics in planning the internal audit assignment

3
Anonymous Author
This class was challenging but informative. I will use it for work in the future.

5
Anonymous Author
Useful material, comprehensive analysis, loud and clear presentation. Thanks!

5
Anonymous Author
Educational for someone who knew nothing on the subject. Thanks for sharing.

5
Anonymous Author
Very interesting course! My first course learning about sampling plans

5
Member's Profile
very in depth material for non accounting professional, but I passed

5
Anonymous Author
great class. good information. I enjoyed the class and informatoin

5
Anonymous Author
it is a very informative, detailed and well organized class.

4
Anonymous Author
Great discussion on the different sampling methods.

Member's Profile
Technical materials - pay attention.

Prerequisites
Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course. 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION and OVERVIEW
  Introduction to Designing and Performing Sampling Plans2:16
  What is Sampling?7:14
Attribute Sampling
  What is Attribute Sampling?5:25
  Attribute Sampling Selection Methods 2:43
  Attribute Sample Size Determination 8:35
  Evaluating Results of Attribute Sampling Application 4:09
Variable Sampling
  What is Variable Sampling?10:15
  Variable Sampling - Key Element Considerations 7:19
Monetary Unit Sampling
  Monetary Unit Sampling (MUS) - Introduction 12:38
  Compliance Audit Applications 4:44
Continuous Play
  Designing and Performing Sampling Plans 1:05:18
SUPPORTING MATERIALS
  Slides: Designing and Performing Sampling PlansPDF
  Designing and Performing Sampling Plans Glossary/IndexPDF
REVIEW and TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam