Sampling for Single Audit

Author: Melisa Galasso

This self-study course is designed for auditors who are new to the single audit or who want a refresher on sampling rules. Your instructor, Melisa Galasso will look at sampling for compliance from both an internal controls perspective and a substantive testing perspective to create efficiency in an audit. You’ll learn to identify the steps in the sampling process as well as recognize how to determine the correct sample size for a single audit.

Publication Date: March 2019

Designed For
Auditors who are new to the Single Audit environment or who want a refresher on sampling rules in the governmental auditing world.

Topics Covered

• Objectives of Single Audit
• Financial Statement Audit
• Compliance Audit
• Sampling Overview
• Financial Statements —Substantive Testing
• Steps in Sampling
• Sampling for ICFR
• Single Audit Sampling
• Dual Purpose
• Common Deficiencies

Learning Objectives

• Describe the differences in sampling internal controls overs compliance verses internal controls over financial reporting
• Differentiate between sampling internal controls over compliance and sampling for substantive tests of compliance
• Recognize how to determine the correct sample size for an Single Audit
• Identify the steps in the sampling process
• Recognize the characteristics of impact the sample size for a substantive test of details
• Describe what you should do once you have defined the population for purposes of controls testing
• Differentiate types of testing and how they are applied
• Describe selection methods
• Identify one of the common deficiencies

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
None

Advance Preparation
None