(2) Select the sampling unit that will permit you to perform the most acquisition audit procedures on the audit program. (3) Include all audit procedures on the audit program that are consistent with the sampling unit you selected. (4) Decide EPER, TER, and ARACR for each attribute. Consider prior-year results for EPER. [See Figure 12-12 in Part IV.] Use your judgment for the other two factors. (5) Decide the sample size for each attribute. Client: Pinnacle Manufacturing Audit Area: Tests of Controls and Substantive Test of Transactions--Acquisitions Define the Objective(s): Examine vendors' invoice, receiving reports, purchase order, and other related documents to determine whether the system has functioned as intended and as described in the audit program. Define the population precisely (including stratification, if any): Vouchers from 1/1/2011 to 10/31/2011. First voucher number 6734. Last voucher number - 33722. Define the sampling unit, organization of population items, and random selection procedures: Voucher number, recorded sequentially in the acquisitions journal; random number function in electronic spreadsheet. Planned Audit Actual Results Calculated Initial Sampling sample Number of Error Description of Attributes EPER TER ARACR Size Sample Size Exceptions SER (TER-SER) 1. Evidence of internal verification of voucher package including propriety of purchase. dates. unit costs, prices, extensions, footings, account 10% 30 classification, recording in journal, and posting and summarization. 2. lances in vendors imoices conform to approved price limits established by manager 596 10% 3. Raice times quantity and other calculation on the vendor's invoice are conect. 194 506 10%% 4. Evidence of proper account tion on vendors' invoices. 194 596 10%% 50 5. Dates on entries in purchases journal on recenting reports. 194 596 10%% 50 5. Evidence of internal verification of each purchase voucher