This webinar will cover different statistical sampling strategies and the risk management strategies while auditing.
Why Should You Attend:
Sampling plans are paradoxical by their nature:
- If a system is out of control, a small sample will identify it.
- If a system is in control, even a large sample might not lead to any findings.
- Ineffective sampling plans can masks the ability to determine the correct state of the system being audited.
The purpose of auditing is to identify failures in the system or gross negligence. The real question, “how bad does the system need to be for auditing to work?” This 60-minute training will look at statistical distribution for rare events to show that the sample size needs to larger when the systems are better. This is a paradox for most auditors, who when a problem is discovered, increase their sample size.