Question: What is meant by an attribute in sampling for tests of controls and substantive tests of transactions? What is the source of the attributes that

What is meant by an attribute in sampling for tests of controls and substantive tests of transactions? What is the source of the attributes that the auditor selects?

Step by Step Solution

★★★★★

3.25 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

An attribute is the definition of the characteristic being tested and the ex... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

185-B-A-A-A (48).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

In performing tests of controls and substantive tests of transactions for the Oakland Hardware Company, Ben Frentz, a public accountant, is concerned with the internal verification of pricing,...

Define what is meant by an attribute in a data model. How should an attribute be named? What information about an attribute should be stored in the CASE repository?

What is meant by an integrative approach to project management? Why is this approach important in todays environment?

What is the purpose of using nonstatistical sampling for tests of controls and substantive tests of transactions? Question content area bottom Part 1 A . The purpose of using nonstatistical sampling...

14-27 (OBJECTIVES 14-5, 14-7) You are going to audit a private companys sales and collection cycle and are planning the sampling for tests of controls and substantive tests of transactions. a. Answer...

14-27 (OBJECTIVES 14-5, 14-7) You are going to audit a private company's sales and collection cycle and are planning the sampling for tests of controls and substantive tests of transactions. a....

In-class Discussion Required 14-27 (OBJECTIVES 14-5, 14-7) You are going to audit a private company's sales and collection cycle and are planning the sampling for tests of controls and substantive...

What is meant by the analysis of expense accounts? Explain how expense account analysis relates to the tests of controls and substantive tests of transactions that the auditor has already completed...

Suppose the spot exchange rate for Narnian currency is trading for $2/N and one year later it can go up to $2.5/N, an increase of 25 percent, or down to $1.80/N, a decrease of 10 percent. Assume a...

Businesses actively recruit business students with well-developed higher-order cognitive skills (HOCS) such as problem identification, analytical reasoning, and content integration skills....

Harold received a phone call from someone claiming to work for the IRS. This person said Harold owed $ 9 0 0 in unpaid taxes, and he would be sent to jail for tax fraud if he didn't pay it back...

3. What is 'Unbalanced Transportation Problem'?

As part of the analytical procedures of Mahogany Products, Inc., you perform calculations of the following ratios: For each of the preceding ratios: Required a. State whether there is a need to...

Following are the auditor's calculations of several key ratios for Cragston Star Products. The primary purpose of this information is to understand the client's business and assess the risk of...

The Internet has dramatically increased global e-commerce activities. Both traditional "brick and mortar" businesses and new dot-com businesses use the Internet to meet business objectives. For...

A firm release earnings after close. The fiscal quarter meets consensus expectations and guidance for th full year is higher thatn current analyst estimate. there were no surprise in report. All fins...

3. Calculating Present Values [LO2] For each of the following, compute the present value: using excel Present Value Years Interest Rate 13 9% 24 29 40 Future Value 15,451 51,557 886,073 550,164

NPV Simes Innovations, Inc., is negotiating to purchase exclusive rights to manufacture and market a solar-powered toy car. The car's inventor has offered Simes the choice of either a one-time...