Question: Prep-Work Problem 12.5 Company X is interested in improving its compliance with internal control procedures. During 20X1, Company X determined that compliance with internal control

Prep-Work Problem 12.5

Company X is interested in improving its compliance with internal control procedures. During

20X1, Company X determined that compliance with internal control procedures was 92%. On

December 31, 20X2, Company X took a random sample of 165 instances where internal controls

should have been followed and determined that internal controls were followed 153 times. Can

Company X conclude (at the .05 significance level) that the level of compliance with internal

control procedures increased in 20X2?

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