What is the difference between a statistical representative test and a non-statistical representative test?
Answer to relevant QuestionsWhat is non-sampling risk? Give some examples.What important decision must be made when test of controls auditing is performed and control risk is evaluated at an interim date several weeks or months before the client’s fiscal year-end?What role does professional judgment play in audit decisions regarding materiality, risk, and sampling? This exercise asks you to specify control test objectives and define deviations in connection with planning the test of controls audit of Kingston Company’s internal controls.Required:a. For each control cited below, state ...Does non-sampling risk include improper application of GAAP? Discuss.
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