Under the Sarbanes-Oxley Act (“the Act”), sampling plays an important role in management's and the Compliance Team's ability to evaluate both internal controls and account balances. Sampling techniques attempt to establish conclusions, or an inference, about a population of data based upon a small amount of information.
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Learning Objectives:
Upon completion of this course, the learner will be able to:
- Define the test objective
- Determine the population
- Select a sampling approach
- Calculate a sample size
- Select the sample
- Test the sample and evaluate the results
Estimated Course Duration: 1.5 hours (2 CPE)
Delivery Method: Online Self-Study
Field of Study: Accounting
Program Level: Intermediate
Advance Preparation/Prerequisites: None
Program Content:
Sampling Overview
- Benefits of sampling
- Steps in the sampling process
Define the Test Objective
- Attribute vs. variable testing
- Examples
Define a Failure
Determine the Population
- Determine the sampling units
- Determine the frequency of control
- Choose the time period of control
- Calculate the total population
Select the Sampling Approach
- Judgmental sampling
- Statistical sampling
Calculate the Sample Size
Select the Sample
- Haphazard selection
- Statistical selection
- Simple random
- Systematic
- Stratified
Perform the Test and Evaluate the Results
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In order to earn CPE credit, you must complete the training module within one year of enrollment and score 70% or above on the Final Exam.
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