Question: The objective of the tolerable rate in sampling for tests of controls of internal control is to a. Determine the probability of the auditors conclusion

The objective of the tolerable rate in sampling for tests of controls of internal control is to

a. Determine the probability of the auditor’s conclusion based upon reliance factors.

b. Determine that financial statements taken as a whole are not materially in error.

c. Estimate the reliability of substantive tests.

d. Estimate the range of procedural deviations in the population.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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

Students Have Also Explored These Related Model Based Testing For Embedded Systems Questions!

Q:

The objective of the tolerable rate in sampling for tests of controls of internal control is to a. Determine the probability of the auditors conclusion based upon reliance factors. b. Determine that...

Q:

The objective of the tolerable rate in sampling for tests of controls of internal control is to a. Determine the probability of the auditors conclusion based upon reliance factors. b. Determine that...

Q:

The objective of the tolerable rate in sampling for tests of controls of internal control is to a. Determine the probability of the auditors conclusion based upon reliance factors. b. Determine that...

Q:

Please answer the multiple choice questions, given the answer only, no explanation needed. Thanks 18. The external auditors might consider the procedures performed by the internal auditors because:...

Q:

The tolerable deviation rate in sampling for tests of controls is: Multiple Choice Used to determine the probability of the auditor's conclusion based upon reliance factors. The probability that the...

Q:

The tolerable deviation rate in sampling for tests of controls is: Multiple Choice The rate the auditor will tolerate without modifying the planned assessment of control risk. Used to determine the...

Q:

The tolerable deviation rate in sampling for tests of controls is __________. used to determine the probability of the auditor's conclusion based upon reliance factors the probability that the...

Q:

The tolerable deviation rate in sampling for tests of controls is: 0 1 : 0 5 : 2 1 Multiple Choice Used to determine the probability of the auditor's conclusion based upon reliance factors. A measure...

Q:

The tolerable deviation rate in sampling for tests of controls is: Multiple Choice Used to determine the probability of the auditor's conclusion based upon reliance factors. The probability that the...

Q:

1.As used in PSA 560, the term "subsequent events" refers to a.Events occurring the date of the financial statement. b.Events occurring after the date of the auditor's report c.Events occurring...

Q:

The graph of a sensitivity analysis is typically displayed as a/an A) Pareto diagram B) Decision tree diagram C) Ishikawa diagram D) Tornado diagram

Q:

Suppose that you are a middle manager. Would you allow the people who report to you to telecommute? Why or why not?

Q:

Consider Fenwicks Seed Financing Overvew. Which of the following is likely to require the MOST in legal fees? Documentation for a convert ble note Documertation for a SAFE Docurtientation for regular...

Q:

What do you think is your strongest component of cultural intelligence? Your weakest? How would you go about shoring up your weaknesses?