You are the auditor manager on the Piper Ltd audit engagement. You are attending a team...
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You are the auditor manager on the Piper Ltd audit engagement. You are attending a team meeting with your auditor senior and junior associate. The junior associate expressed the following concern: "We found that we were running out of time to complete our audit procedures. The audit senior advised that we should reduce the sample sizes used in our tests as a way of saving time. He also suggested that we should select items which would be quick to audit when carrying out audit sampling." Required a) Evaluate the junior associate's concern. (4 marks) You are the auditor manager on the Piper Ltd audit engagement. You are attending a team meeting with your auditor senior and junior associate. The junior associate expressed the following concern: "We found that we were running out of time to complete our audit procedures. The audit senior advised that we should reduce the sample sizes used in our tests as a way of saving time. He also suggested that we should select items which would be quick to audit when carrying out audit sampling." Required a) Evaluate the junior associate's concern. (4 marks)
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The junior associates concern is valid as reducing sample sizes and selecting items that are quick t... View the full answer
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Posted Date:
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