Course Information
Audit Sampling
Course Description
Please join us as we take you from an introduction of audit sampling basic concepts through the application of statistical and nonstatistical sampling methods. When performing an audit, an auditor bases his/her opinion about the effectiveness of an internal control environment on a variety of tests of the controls. The auditor will use sampling methods to obtain sufficient evidence to support audit conclusions, rather than test 100% of the population. Compliance, accuracy, and completeness of data is also tested by sampling. This course explores the different sampling methods that could be used in an audit.
Course Objectives
Upon completion of this course, participants will be able to:
Understand the basic concepts and terms of audit sampling
Differentiate statistical and nonstatistical testing applications
Differentiate between attribute testing and variable sampling
Explain special considerations related to internal control and compliance testing in single and program specific audits
Detailed Course Outline
Intro to Sampling
Basic Concepts and Terms of Audit Sampling
Types of sampling and sampling risk
Statistical and Nonstatistical Sampling Methods
Differentiating statistical and nonstatistical sampling
Attribute testing for tests of controls and compliance
Variable sampling for substantive assurance
Documenting Populations and Sample Size
Identifying and documenting populations
Determining sample sizes in an audit
Prerequisites
Fundamentals of Auditing.
Instructors
Reina Hernandez is a Consulting Manager in the Columbia Office of UHY where her focus is internal audit. She has over 10 years of experience conducting internal audits, operational and compliance reviews, enterprise risk management, risk and compliance services to for-profit companies and local governments. Reina delivers a strong commitment to her profession through the guidance and assurance services she provides to organizations.
Additionally, Reina is a Certified Internal Auditor (CIA) which is a credential granted by the institute of Internal Auditors (IIA) that indicates her dedication to internal auditing and demonstrates credibility in the field. She also holds a Certification in Risk Management Assurance (CRMA) which is a credential that demonstrates her ability to evaluate dynamic components of an organization’s governance and enterprise risk management program and provide guidance and assurance surrounding those issues.
Jack Reagan is a leader in UHY’s Audit and Assurance Department and the leader of the firm’s National Government Practice where he plays a key role in developing practices and procedures to improve the delivery of professional services to governmental entities. Jack has also been elected to a two- year term to UHY LLP’s management committee.
Jack has spent over 30 years of his professional career serving large local governments, both locally and nationally. Jack has served many of the largest governments across the nation. Nationally, Jack has served entities such as Metro Nashville/Davidson County, New York PGW, and the States of New York, Texas, California and Florida. He is also the co-lead partner responsible for the audit of the District of Columbia. Finally, Jack handles leading UHY’s American Rescue Plan Act (ARPA) consulting efforts throughout the U.S.
Jack is also an active presenter on governmental accounting and auditing issues, having presented to the Maryland Society of CPAs government day on numerous occasions as well as various state of Maryland CPA chapters. Jack is a licensed CPA in the State of Maryland. He is a member of the American Institute of Certified Public
Accountants, the Association of Government Accountants, the Association of School Business Officials, and the Government Finance Officers Association. In addition, he serves on the University of Richmond Accounting Department Advisory Board and the University of Richmond Robins School of Business Dean’s Advisory Board. Jack received a BSBA in Accounting from the University of Richmond.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.
If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.
Vending machines with Coca-Cola products and various snack items are available. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.
You might want to bring a light sweater or jacket, as room temperatures vary.
To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html