Are you seeking to improve the effectiveness of your audit planning and to ensure whether or not your results can be generalized to total populations? This one-day course provides the opportunity to learn about the analysis of large data sets, particularly how to summarize data, display data, and determine the appropriate measures for describing data. The course includes determining the types of evidence needed and the various evidence collection methods.
In order to have a cost-effective and value-added audit, you need to make maximum use of the tools available to the auditor in planning. If you don’t understand population analytics and sample analytics, then you run the risk of moving into conduct too soon without the appropriate preparation for evidence collection. Consequently, either crucial data may not be collected or may be collected in such a way that it cannot be generalized to the population. In either case, there would be an increase in cost and loss of value.
Specifically, participants will learn how to:
- Appropriately use population analytics (analysis of shape, central tendency, variation, correlation, and linear regression).
- Effectively use benchmarking during planning to identify areas that may have potentially weak controls.
- Correctly define of the boundaries of data that constitute various types of evidence.
- Correctly generalize (or not) findings to total populations of data.
This course applies to all auditors at all experience levels in both the public and private sectors.