Question: a . Use IDEA to determine the necessary sample size, given the preceding parameters. b . Assume that your audit team has decided to increase
a Use IDEA to determine the necessary sample size, given the preceding parameters. b Assume that your audit team has decided to increase their reliance on internal control and permit a corresponding increase in the risk of incorrect acceptance from percent to percent, which maintains overall audit risk at the same level. What is the necessary sample size, holding all other factors constant? c Assume that your audit team has decided to reduce the level of tolerable misstatement from $ to $ or percent of the recorded balance of the transactions What is the necessary sample size, holding all other factors constant? d Assume that based on additional controls implemented by ELM, your audit team has decided to reduce the expected misstatement from $ to $ percent of the recorded balance of the transactions What is the necessary sample size, holding all other factors constant? Show less
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