An auditor is performing a test of controls over the completeness of sales transactions for a company.
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Question:
An auditor is performing a test of controls over the completeness of sales transactions for a company. The auditor selects a sample of 100 sales invoices and finds that 5 invoices are missing a signature of approval by the sales manager. The auditor wants to determine the upper limit on the true rate of occurrence of this control deviation with a 95% level of confidence. Calculate the point estimate, standard error, and the upper limit for the true rate of occurrence.
Related Book For
Auditing The Art And Science Of Assurance Engagements
ISBN: 9780136692089
15th Canadian Edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones
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