For the following three control attributes, you want to be 90 percent confident that the population...
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For the following three control attributes, you want to be 90 percent confident that the population deviation rate does not exceed 7.5 percent. Attribute 1-The purchase order was approved (purchasing department stamp provides evidence) Attribute 2-The purchase order, receiving report, and vendor invoice are included in each voucher packet Attribute 3-The accounts payable department compared product and quantities across the three documents (initials by an accounts payable clerk and auditor reperformance provide evidence) You tested a sample of 52 voucher packages and discovered the following deviations: Attribute 1: 2 deviations • Attribute 2: 1 deviation • Attribute 3: 0 deviations · Evaluate the results of your testing by: 1. In the Analysis tab, Sample group, choose Attribute to open the Attribute Sampling window. 2. Click on the Sample Evaluation tab 3. Enter the applicable parameters (e.g., % Desired confidence level is 90 and Sample size is 52, Number of deviations in sample listed above). Enter 1000 for the population size. 4. Click Compute What is the 1-Sided Upper Limit for each attribute? (Note: Ignore 2-Sided Limits when answering this question) Note: Round your "1-Sided Upper Limit" to 1 decimal place. 1-Sided upper limit for attribute 1 1-Sided upper limit for attribute 2 1-Sided upper limit for attribute 3 For the following three control attributes, you want to be 90 percent confident that the population deviation rate does not exceed 7.5 percent. Attribute 1-The purchase order was approved (purchasing department stamp provides evidence) Attribute 2-The purchase order, receiving report, and vendor invoice are included in each voucher packet Attribute 3-The accounts payable department compared product and quantities across the three documents (initials by an accounts payable clerk and auditor reperformance provide evidence) You tested a sample of 52 voucher packages and discovered the following deviations: Attribute 1: 2 deviations • Attribute 2: 1 deviation • Attribute 3: 0 deviations · Evaluate the results of your testing by: 1. In the Analysis tab, Sample group, choose Attribute to open the Attribute Sampling window. 2. Click on the Sample Evaluation tab 3. Enter the applicable parameters (e.g., % Desired confidence level is 90 and Sample size is 52, Number of deviations in sample listed above). Enter 1000 for the population size. 4. Click Compute What is the 1-Sided Upper Limit for each attribute? (Note: Ignore 2-Sided Limits when answering this question) Note: Round your "1-Sided Upper Limit" to 1 decimal place. 1-Sided upper limit for attribute 1 1-Sided upper limit for attribute 2 1-Sided upper limit for attribute 3
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The question provided relates to statistical sampling and specifically to attribute sampling in auditing You want to calculate the 1sided upper limit ... View the full answer
Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
Posted Date:
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