Question 7 Robert is a qualified chartered accountant and is in the process of planning to...
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Question 7 Robert is a qualified chartered accountant and is in the process of planning to use attribute sampling in order to determine the degree of relance to be placed on a cent's system internal control over sales. The following information is available: 30 paints Control Procedure Parameters 2 Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations Required: MacBook Air Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations 1. 2 Required: 1. Determine the sample size for each of the control procedures it Marks Mark 2. Determine the sample deviation rate. Maa 3 Determine the computed upper deviation rate Marta 4 What conclusion should Robert reach about each control procedure? Justity your answer MocBook Air Question 7 Robert is a qualified chartered accountant and is in the process of planning to use attribute sampling in order to determine the degree of relance to be placed on a cent's system internal control over sales. The following information is available: 30 paints Control Procedure Parameters 2 Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations Required: MacBook Air Sampling Risk Tolerable deviation rate Expected population deviation rate 3% 4% 7% 4% 8% 3% The number of deviations: Control Procedure Results Number of deviations 1. 2 Required: 1. Determine the sample size for each of the control procedures it Marks Mark 2. Determine the sample deviation rate. Maa 3 Determine the computed upper deviation rate Marta 4 What conclusion should Robert reach about each control procedure? Justity your answer MocBook Air
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Answer rating: 100% (QA)
ANSWER Solution 1 Sample size for each control procedure can be determined using the formula Sample size Zscore Standard deviation Tolerable error2 Wh... View the full answer
Related Book For
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
Posted Date:
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