Question: Describe how auditors use sampling and GAS for gathering audit evidence.

Describe how auditors use sampling and GAS for gathering audit evidence.

Step by Step Solution

★★★★★

3.33 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Sampling is used in testing both controls and account balances and assertion... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

330-B-A-A-B-R (1156).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Q:

How does the auditors responsibility for gathering evidence differ between the balance sheet and income statement accounts?

Q:

Describe how each of the three approaches to gathering audit evidence discussed in this chapter can be used to test the five financial statement assertions: existence, completeness, rights,...

Q:

Describe the audit procedures the auditors use to test internal controls.

Q:

Describe how auditors use sampling and generalized audit software to gather sufficient appropriate audit evidence.

Q:

Describe how auditors use sampling and data-analytics tools for obtaining and evaluating audit evidence.

Q:

Describe how auditors use sampling and data - analytics tools to obtain and evaluate audit evidence.

Q:

The scribes of ancient Egypt were the forerunners of today's accountants. a. True b. False Possible Exam 1 Questions Chapter 1: 3. The scribes of ancient Egypt were the forerunners of today's...

Q:

I need the multiple choice questions answers from chapter 4 and 5 of the attached & Monograph...

Q:

1 Mr Elliot has recently been appointed as the Chief Executive Officer at the company at which you are the Chief Financial Officer. As part of his induction program, you have been tasked with...

Q:

I have attached two articles that needs to read and reviewed and then...

Q:

A mixture consisting of 0.130 mol N, 0.041 mol O, 0.100 mol CH, and an unknown amount of CO occupies a volume of 8.90 L at 25C and 1.09 atm pressure. Find the moles of CO are there in this sample.

Q:

Design a suitable footing for exterior column C1 at corner (assume the live load reduction factor is 20%). The depth of foundation is (1.5+27/30) meter. The average density of backfill material and...

Q:

2. Naphtha and gas oil are two fractions obtained from the fractional distillation of petroleum. In which of the following ways does gas oil differ from naphtha? (a) It is paler in colour. (b) It is...

Q:

Asa final exercise, consider life in a country that does not provide safeguards for civil liberties. How would your life be changed?

Q:

A client with just-in-time inventory does not formally receive goods, but unloads supplies from the railroad car directly into the production line. The client has a long-term contract with the...

Q:

What important controls would an auditor expect to find in an accounts payable environment when payments are automatically scheduled and checks or electronic transfers of cash are generated by the...

Q:

Why does much of the audit work in the acquisition cycle focus on tests of transactions rather than year-end tests of account balances?

Q:

e. The after tax cost of debt for the firm is ____% (Individual or component costs of capital) Your firm is considering a new investment proposal and would like to calculate its weighted average cost...

Q:

Consider a three-dimensional Normal random vector: 1 PXY PXZ Y ~ N PXY 1 PY Z Z PXZ PYZ 1 The correlation coefficient between X and Y is pxy . For a multivariate Normal vector, the partial...

Q:

You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of . 5 percent per year, compounded monthly for the first six months, increasing thereafter to 1...