Question: Describe how auditors use sampling and GAS for gathering audit
Describe how auditors use sampling and GAS for gathering audit evidence.
Answer to relevant QuestionsRefer to Exhibit. Describe at least one auditing procedure for each financial statement assertion for sampling andGAS.Practice calculating the sample size and the number of expected errors in attributes sampling by using the tables in Exhibit and the following combinations ofinputs:When using nonstatistical sampling as a test of an account balance, how does the auditor do the following?a. Determine the sample size.b. Select the sample.c. Evaluate the sample results.Assume that the auditor is auditing accounts receivable for a long-time client. The auditor has assessed the risk of incorrect acceptance at 10%. The client's book value in accounts receivable is $8,425,000. Tolerable ...List the factors that the auditor should address when defining the population in attributes sampling.
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