The auditor should evaluate the qualitative aspects of deviations found in a sampling application. What are the purposes of evaluating the qualitative aspects of deviations?
Answer to relevant QuestionsHow should the results of a non statistical test of controls sample be evaluated in terms of considering sampling risk?Jenny Jacobs, CPA, is planning to use attribute sampling in order to deter-mine the degree of reliance to be placed on an entity’s system of internal control over sales. Jacobs has begun to develop an outline of the main ...Doug Iceberge, senior- in- charge of the audit of Fisher Industries, has decided to test the following two controls for Fisher’s revenue process. 1. All sales invoices are supported by proper documentation, that is, a ...How do the desired confidence level, risk of material misstatement, and tolerable and expected misstatements affect the sample size in a non-statistical sampling application?World- famous mining mogul Steve Wilsey hired the public accounting firm of Joe Wang Associates, PC, to conduct an audit of his new acquisition, Cougar Goldust, Inc. The gold inventory was scheduled to be taken on November ...
Post your question