Describe the relevant population and sampling unit for testing in order to fulfill the following audit objectives:

Question:

Describe the relevant population and sampling unit for testing in order to fulfill the following audit objectives:

a. To determine whether all purchases are properly authorized; controls require written authorization of purchases in excess of $2,000, with lesser dollar purchases ordered verbally directly from suppliers.

b. To estimate year-end inventory balances.

c. To test whether recorded receivables are overstated.

d. To gain assurance that all sales are recorded.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Internal Auditing: Principles And Techniques

ISBN: 9780894131677

1st Edition

Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke

Question Posted: