Module 04 Content

Based on the Audit Plan created last week, create a plan for sampling and testing controls.

This can be done in a table format in your Excel workbook of audit papers. Include the account or process (i.e. Accounts Receivable or Cash Handling), objective, method, exception criteria, population, sampling unit and tolerable exception rate. For Sampling units, where exact numbers are not known (such as total number of customer accounts within Accounts Receivable), use an appropriate portion such as 1 out of 1,000.

In your spreadsheet, be sure to include your reasons for the criteria you chose.

Submit the Sampling and Testing Plan of Controls for grading purposes. The Sampling and Testing Plan of Controls should be part of your Excel working papers so you can turn in the entire workbook. Please be sure the tabs in the workbook are labeled appropriately.

Submit your completed assignment to the drop box below. Please check theCourse Calendarfor specific due dates.

Save your assignment as a Microsoft Excel spreadsheet. (Mac users, please remember to append the .xlsx extension to the filename.) The name of the file should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:

Jstudent_exampleproblem_101504