ATTRIBUTE SAMPLING PROBLEM You have been assigned to test the companys internal controls over credit authorization You have determined that there are 20000 sales invoices processed during the year The parameters given to you by the audit manager are 95 confidence that no more than 5 of the sales invoices were not approved deviations Based on last years audit it is estimated that approximately 1 of sales invoices deviate from the internal control being tested You can accept a tolerable deviation

Answer rating: 100% (QA)

Risk management is critical to every companys financial and operational health as any auditor knows Businesses are relying on more complicated systems to generate the types of data that help them mana... View the full answer