What alternative courses of action are available to auditor

Assignment Help Auditing
Reference no: EM13886743

When evaluating an attributes sample, why is the focus on the upper limit of deviations in the sample? If the upper limit of deviation exceeds the tolerable deviation rate in attributes sampling, what alternative courses of action are available to the auditor?

Reference no: EM13886743

Questions Cloud

The price elasticity for butter is fairly high : The price elasticity for butter is fairly high (in absolute value). Which of the following is among the reasons why its demand is so elastic?
Standard unqualified report for a non public entity : 1.Compare the wording in the standard unqualified report for a non public entity under AICPA auditing standards in Figure.
What is the general formula for their family of isoquants : Suppose that Noah and Naomi’s weekly production function is F (L, K) = 10L + K, where L is the number of assembly workers (labor) and K is garage space (capital). What is the general formula for their family of isoquants?
Calculate price elasticity of demand for movie tickets : Calculate price elasticity of demand for movie tickets if demand for movie tickets increases from 220 tickets to 290 tickets with the decrease in price from $12.50 a ticket to $8.50 a ticket.
What alternative courses of action are available to auditor : If the upper limit of deviation exceeds the tolerable deviation rate in attributes sampling, what alternative courses of action are available to the auditor?
Calculate the consumer price index and the inflation rate : Use the information below to calculate the Consumer Price Index and the inflation rate. The base year is 1975.
Find a formula for her labor supply curve : Sheryl spends all her leisure time and all her money on sailing. She doesn’t value leisure time if she can’t sail, and she can only sail if she has leisure time. How many hours will she work if she earns $20 per hour? Find a formula for her labor sup..
Decides to impose pigovian tax on pollution in community : The Fireyear and Goodstone Rubber Companies are two firms located in the rubber capital of the world. These factories produce finished rubber and sell that rubber into a highly competitive world market at the fixed price of £60 per ton. In the absenc..
Determine the upper limit of deviation for each of controls : Determine the upper limit of deviation for each of the controls. What impact do these results have on the type of opinion to be given on the client's internal controls?

Reviews

Write a Review

Auditing Questions & Answers

  How nature of a substantive test could affect the decisions

Explain how the nature of a substantive test could affect the decisions about when and how much substantive testing is performed and how do these decisions relate to the overall risk assessment for the item being tested?

  Journal entries for redemption of bonds

Prepare journal entries for redemption of bonds. For each situation prepare the appropriate journal entry for the redemption of the bonds.

  Compute the expected errors

What is your conclusion based on your sample, in terms of the effectiveness of this control - Determine that the control is not working well, state the compensating substantive test(s) that you would perform - Compute the "expected error

  Calculate net profit ratio and gross profit ratio

With reference to each one of the five ratios in turn and the other information provided explain what the results of your calculations indicate for Globe Ltd's going concern - What other audit techniques could the auditor use to indicate whether Gl..

  Evaluate the audit findings

Evaluate the audit findings - Determine planning materiality, and tolerable misstatement

  Control systems in nonprofit organizations

Control systems in nonprofit organizations will never be as highly developed as in profit-seeking organizations. Do you agree? Explain.

  Provide arguments for both sides of the debate and formulate

Criticism of sarbanes-oxley act 2002 do not believe the act will be effective at deterring accounting frauds because it primarily relies on specifying new crimes and higher penalties( increasing the maximum fine and prison terms).

  Preparing memo on state of the company industryassume that

preparing memo on state of the company industryassume that you are audit senior in an accounting firm. your firm has

  Apollo shoes audit

Obtain an understanding of the company, its internal control, and its audit risk factors (including the risk of material misstatements due to fraud).

  Auditing standards require the auditor to obtain

1.Auditing standards require the auditor to obtain an understanding of the entity and its environment as a basis for assessing the risks of material misstatements.

  Payment cycle for a typical manufacturing company

1.List five asset accounts, three liability accounts, and five expense accounts included in the acquisition and payment cycle for a typical manufacturing company.

  Problem on audit planning and analytical procedure

Based on the analytical procedures calculated in parts a and b, summarize your observations about Pinnacle's business, including your assessment of the client's business risk.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd