Question: Distinguish between confirmation response rate and confirmation detection rate.

Distinguish between confirmation response rate and confirmation detection rate.

Step by Step Solution

★★★★★

3.39 Rating (180 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The response rate for positive confirmations is the proportion of the nu... 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

383-B-A-A-P (1368).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

Q:

Distinguish between a positive and a negative confirmation and state the circumstances in which each should be used. Why do CPA firms sometimes use a combination of positive and negative...

Q:

Distinguish (a) Between fixed rate and variable rate debt issues (b) Between conventional serial bond and term bond issues and deep discount bond issues.

Q:

Distinguish between quoted interest rate, interest rate per period, and effective annual interest rate.

Q:

In choosing to use blank positive confirmations, the auditor should consider what possible trade-off will occur? Multiple Choice A higher response rate but lower detection rate. O A higher detection...

Q:

Requirement 3: Auditor Bias Matrix As a result of your audit teams planning discussions, members of the audit team have started performing some audit procedures. Table 2 summarizes some of the audit...

Q:

0. The audit risk model, identified in the AICPAs Professional Standards includes all of the following component risks, except for a. Control risk. b. Sampling risk. c. Inherent risk. d. Detection...

Q:

Read image s 1. Police have high hopes for technology. What are some of the common technologies that police use, and what are the outcomes that police seek from technology? 2. Lum and Koper argue...

Q:

Positive confirmation of accounts receivable is considered to be more effective than negative confirmation of accounts receivable because a. A majority of recipients usually lack the willingness to...

Q:

It had been a quiet Monday morning for Anna Hogue, senior project manager at Flagstone Consulting. Everything seemed to be falling into place for the company's first conference, Healthcare Management...

Q:

Question 8 of 12 -/1 View Policies Current Attempt in Progress It had been a quiet Monday morning for Anna Hogue, senior project manager at Flagstone Consulting. Everything seemed to be falling into...

Q:

Doris Tidwell and Jo Yost are both cash register clerks for Fullers Organic Markets. Tom Ward is the store manager for Fullers Organic Markets. The following is an excerpt of a conversation between...

Q:

Rotate the region bounded by 1 y = 4+3e", y = 2, x 2 about the x-axis. and x = = 3

Q:

3 Windermere Ltd has entered into a transaction with one of its directors to purchase from him freehold land exceeding 100,000 in value. Given that the transaction has not been approved by the...

Q:

This should be viewed as an intermediate stage between a project opportunity study and a detailed feasibility study. A. Opportunity Studies B. * Pre-feasibility Studies C. Feasibility Studies D....

Q:

Why are the controls over financial reporting the most important part of the internal control framework from the auditors perspective?

Q:

What are the two types of control activities that make up controls over financial reporting at the accounting process level?

Q:

What are general control activities? Give examples.

Q:

Consider these long-term investment data: The price of a 10-year $100 par value coupon inflation-indexed bond is $88.91. A real-estate property is expected to yield 2% per quarter (nominal) with a SD...

Q:

Forward Premium on the Dollar. Calculate the forward premium on the dollar if the spot rate is 1.3461=$1.00 and the 6-month forward rate is 1.3577=$1.00. Note: Use a 360-day year. The forward premium...

Q:

Currently, 10-year annual corporate bonds with an AA rating have an average credit spread of 270 basis points. The yield to maturity of 10-year Treasury annual coupon bonds is currently 1%. Estimate...