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Calculate the sampling interval

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Reference no: EM132471926

Locate the following documentation in the file:

WP 11.3A- Monetary unit sampling plan;

WP 11.3B- Monetary unit sampling plan-projected misstatement; and

WP 11.3C- Monetary unit sampling plan-computed precision and upper misstatement limit.

Question 1: Calculate the sampling interval.

  1. Risk of incorrect acceptance: 5% or 95% confidence
  2. Expected population deviation rate: 1% based on auditor's prior experience with the entity Tolerable rate of deviation:
  3. 6% determined by auditor; if actual exceeds 6%, the control probably has failed

Reference no: EM132471926

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