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Fundamentals of Statistical Sampling

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Date(s): Nov 05, 2020
Time: 8:00AM - 4:30PM
Registration Fee: $259.00
Cancellation Date: Oct 29, 2020
Location: Online

Course Description

This course discusses the fundamentals of statistics and statistical sampling. While many audit practitioners have software to assist in determining sample sizes and sampling methods, it is important to understand the science behind the automated tools. First, we will provide a statistics primer. Participants will be able to distinguish between the different types of data and how they are organized. Probability, relationships between variables and an overview of different data sources are also covered. Next, we will discuss uses for statistical sampling in internal auditing and other fields. Participants will hear about common (and less common) techniques, approaches and methods of sampling and much more!

Potential CPE Credits: 8.0
Govt Hours: This class meets 8.0 hours of the 24-hour requirement for governmental CPE under Government Auditing Standards (yellow book), in most cases.
Technical Hours: This class meets 8.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level: BEGINNING
Category: 02 Auditing

Course Objectives


Upon completion of this course, participants will be able to:

·         Determine sample sizes and sampling methods

·         Understand the science behind automated sampling tools

·         Distinguish different types of data and their organization



1. Statistics Primer
- Data Types 
- Understanding Numerical Data 
- Understanding Categorical Data 
- Probability 
- Relationships Between Variables 
- Data Sources 
- The differences between direct and indirect data 
- Ways in which we can “picture” numerical data 
- Overview of standard deviation and normal distribution 

2. Statistical Sampling Primer 
- What is sampling used for? 
- Why do auditors sample? 
- When is sampling not appropriate? 
- Principles of statistical sampling 

3. Sample Selection Techniques

4. Sampling Approaches: Acceptance, Discovery and Estimation 

5. Sampling Methods Appropriate for Tests of Controls 
- Attributes Sampling Method 
- Sequential Sampling Method (Stop-or-Go Sampling) 
- Discovery Sampling 

6. Sampling Methods Appropriate for Substantive Tests 
- Probability Proportional to Size (PPS) (Dollar Unit) 
- Classical Variables Sampling


No prerequisites required.

Government Hours: 4.23(p)


Kathleen Crawford

Kathleen Crawford is a Senior Consultant for MIS Training Institute. She has more than 25 years' experience in internal audit and fraud investigation. Ms. Crawford is a consultant, specializing in assurance, investigative and advisory projects. Previously, she was an Internal Auditor for Vinfen Corporation, a private, nonprofit human services organization. There she assisted management in the standardizing operations, developing policies and procedures and improving processes. Ms. Crawford also investigated suspected financial crimes, collecting evidence to support successful prosecution and recovery of assets. She created unique methodology to detect and document fraud while complying with unique requirements of MA and CT human services regulations.

Ms. Crawford began her career as a bank auditor, first with Bank of New England, then Eastern Bank and State Street Bank. In all three institutions, she was responsible for both internal audits and fraud investigations. Ms. Crawford holds an MBA from the University of Phoenix, attended Babson College Graduate School of Business, and holds a BA in English from Boston College. A member of the Institute of Internal Auditors, she is a past President of the Greater Boston Chapter of the IIA. She is also a member of the Association of Certified Fraud Examiners and the Association for Talent Development. Ms. Crawford serves as Treasurer of the Board of Trustees of the Foxborough Regional Charter School and its foundation, Friends of FRCS. She is also Chair of Vinfen Corporation's Family Advisory Council, a group that consults on issues important to persons with intellectual and developmental disabilities.

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.

The course coordinator will contact you with parking information. Handicapped parking is free at the meters around the downtown area.

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

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