Our audit team has decided to test the following control: All purchase orders greater than $5,000...

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Our audit team has decided to test the following control: All purchase orders greater than $5,000 are approved by the purchasing supervisor before they are sent to the vendor. We will be performing our test as of November 1, 2020. To plan for this test of control you must 1) state the testing objectives, 2) define the population to be used in selecting a sample and 3) define what we would consider a control deviation. Our audit team has decided to test the following control: All purchase orders greater than $5,000 are approved by the purchasing supervisor before they are sent to the vendor. We will be performing our test as of November 1, 2020. To plan for this test of control you must 1) state the testing objectives, 2) define the population to be used in selecting a sample and 3) define what we would consider a control deviation.

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Testing objectives To determine whether purchase orders greater than 5000 are approve... View the full answer