Explain briefly what is meant by audit sampling.
Question:
Explain briefly what is meant by ‘audit sampling’.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
Answered By
ALBANUS MUTUKU
If you are looking for exceptional academic and non-academic work feel free to consider my expertise and you will not regret. I have enough experience working in the freelancing industry hence the unmistakable quality service delivery
4.70+
178+ Reviews
335+ Question Solved
Related Book For
Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
Question Posted:
Students also viewed these Business questions
-
Explain briefly what is meant by 'audit sampling and In relation to audit sampling, explain briefly what is meant by; (i) Sampling risk (ii) Stratification (iii) Precision limits (iv) Tolerable error
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
1. List the steps involved in attribute sampling. 2. What is meant by "sampling risks" and what is its impact on audit findings? 3. Identify and define the factors that affect the size of an...
-
At times we can generate a regression equation to explain outcomes. For example, an employees salary can often be explained by their pay grade, appraisal rating, education level, etc. What variables...
-
You have a single 60-W bulb on in you room. How does the overall resistance of your rooms electric circuit change when you turn on an additional 100-W bulb?
-
On December 31, Year 2, Palm Inc. purchased 80% of the outstanding ordinary shares of Storm Company for $350,000. At that date, Storm had ordinary shares of $240,000 and retained earnings of $64,000....
-
Pick a product like Cadillac or Sara Lee Deli products or service like Mr. Clean Performance Car Wash or a car and home insurance company that is offered in a limited number of countries. Assess the...
-
A manufacturing company has two service and two production departments. Building Maintenance and Factory Office are the service departments. The production departments are Assembly and Machining. The...
-
Explain the advantages of the relational model. Conduct some light research on the Web and describe how it differs from other data models. Explain some alternatives to the relational model. Please...
-
In relation to audit sampling, explain briefly what is meant by: (i) Sampling risk (and levels of assurance). (ii) Stratification. (iii) Precision limits. (iv) Tolerable error.
-
Explain briefly the responsibilities of an incoming auditor (following a change of auditor) in respect of the opening balances in the current periods financial statements.
-
A three-phase \(25-\mathrm{kVA}, 480-\mathrm{V}, 60-\mathrm{Hz}\) alternator, operating under balanced steady-state conditions, supplies a line current of \(20 \mathrm{~A}\) per phase at a 0.8...
-
Consider a sheet of paper 8.2 inches by 11.45 inches. A.) How much force, in newtons, is exerted on one side of the paper by the atmosphere? B.) The mass of a midsized car is about 1000kg. What is...
-
Sheila Rivers is single and lives with her elderly mother, who is infirm. During 2019, Sheila had salary income of $60,000, she contributed $3,500 to a Registered Pension Plan, and she paid union...
-
A shoe collector owned 4 2 pairs of Jordans in 2 0 1 8 . After much research and many online auctions,the shoe collector owned 1 1 2 pairs of Jordans in 2 0 2 2 . a . What is the absolute change in...
-
The duration of the assets is 4, the duration of the liabilities is 5. The size of the assets is 100 and the capital ratio (E/A) is 20%. Calculate the leverage adjusted duration gap.
-
A glass windowpane in a home is 0.62 cm thick and has dimensions of 1.0 m 2.0 m. On a certain day, the indoor temperature is 25 degrees Celsius and the outdoor temperature is 0 degrees Celsius. (a)...
-
Selected data from the September 27, 2008, and September 29, 2007, consolidated balance sheets and income statements for the years then ended for Apple Inc. follow. All amounts are reported in...
-
A genetically engineered strain of Escherichia coli (E. coli) is used to synthesize human insulin for people suffering from type I diabetes mellitus. In the following simplified reaction scheme,...
-
Is there any difference between a brand name and a trademark? If so, why is this difference important?
-
Is a well-known brand valuable only to the owner of the brand?
-
Suggest an example of a product and a competitive situation where it would not be profitable for a firm to spend large sums of money to establish a brand.
-
Alayna is having a hard time adjusting to the change that creating an online store brings to her workload as a marketing manager at Craftopia. As the CEO, you want to understand and help her manage...
-
Explain the foreman's response to the consultant (David Johnson). "Look, Mr. Johnson, we know how to make this new die-cut work, but what's in it for us? If we work the machine so the die-cut doesn't...
-
Organizational structure changes the way that communication and decision - making flow within organizations. Some structures have top - down decision - making, while other structures have more...
Study smarter with the SolutionInn App