Reference no: EM132137220
In each of the following situations, indicate whether a fixed (F), sequential (S), or discovery (D) attributes sampling plan is being used.
The audit team has determined the tolerable rate of deviation to be 5%, the risk of overreliance to be 10%, and the expected population deviation rate to be zero.
Based on the risk of overreliance, expected population deviation rate and tolerable rate of deviation, the audit team examined a sample of 50 items before determining if additional items should be included in the sample.
Using the AICPA Sample Size tables, the audit team determined the appropriate sample size and selected the sample items. However, the audit team stopped the examination after a deviation was found.
The audit team established the risk of overreliance to be 5%, the tolerable rate of deviation to be 4%, and the expected population deviation rate to be 3%. Using the AICPA Sample Size tables, the audit team decided to sample over 1,000 items.
The audit team is performing a sampling application to evaluate the operating effectiveness of an entity's internal controls. The application used could provide a more efficient method of examination, but it is important that the audit team evaluate the sample in the order they were selected.
|
Sourcing agent play in analyzing international markets
: What role does the sourcing agent play in analyzing international markets, marketing?
|
|
How many units can this system produce in one year
: How many units can this system produce in one year, if it operates 8 hours a day, 7 days a week, and 50 weeks a year.
|
|
Political issues in international marketing such as risk
: What are legal and political issues in International Marketing such as risk, regulation, intellectual property protection, stability, and government control?
|
|
Determined tolerable misstatement-expected misstatement
: Determined based on tolerable misstatement, expected misstatement, and the risk of incorrect acceptance.
|
|
Determined the tolerable rate of deviation
: The audit team has determined the tolerable rate of deviation to be 5%, the risk of overreliance to be 10% and the expected population deviation rate to be zero
|
|
Discuss and evaluate these strategies in depth
: Discuss and evaluate these strategies in depth. Identify at least 3 key challenges and benefits in the organization's objectives.
|
|
Negotiating customs-motivating techniques-leadership style
: What are the negotiating customs, motivating techniques, leadership styles teams,communication for Ghana/West Africa?
|
|
Maintaining healthy level of professional skepticism
: Why professional skepticism is such important quality for auditor to possess and some potential barriers to maintaining healthy level of professional skepticism
|
|
Develop five measurable stretch goals for worlflow
: Develop five measurable stretch goals for worlflow and five measurable stretch goals for effectiveness ratio(2 pages).
|