An auditor is sampling with replacement and, by chance, a particular account has been selected twice. Should it be included two times in the sample?
Answer to relevant QuestionsWhen using attributes sampling, the auditors must estimate the expected population deviation rate. What sources are used to make this estimate?List the factors affecting sample size in a PPS sample.What auditing procedures, if any, are necessary for notes receivable but not required for accounts receivable?List the major responsibilities of an accounts payable department.What do you consider to be the most important control a corporation can adopt with respect to capital stock transactions?
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