Calculate upper amd lower error limits

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Reference no: EM131240378

Question:
Use DUS for audit of a/c rec.
• TE= $50000
• Beta risk = 5%
• Dollar unit sample=50
• Expected misstatements rate for zero errors = 100%
• BV = $473000
• Number of open a/c balances = 760

Required: (Show all calculations)
a) Calculate upper & lower error limits.
b) Is BV materially misstated?

Recorded Value	Audited Value
1530	1683
3390	2712
220	352
280	490
2350	1175
200	80

Reference no: EM131240378

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