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Question:
Part A
(i) Describe audit sampling. Why do auditors sample instead of examining every transaction?
(ii) List the four factors that enter into the sample size decisions.
Part B
(i) Briefly explain four benefits to top management of carrying out performance/operational reviews
(ii) List and describe briefly the phases through which a performance/operational review progresses.
Evaluation and Disposition of Misstatements, and the Effect on the Auditor’s Report: Whenever the auditor verifies that, or is not capable to conclude whether, the financial stat
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audit of insurance entities
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Existence - Plant and Machinery However this should generally be checked through physical inspection, so a problem arises. Items of machinery and plant can be numerous mobile
Statistical sampling – Advantages a) It is scientific and defensible; b) It provides a precise mathematical statement about probabilities of being correct; c) It is efficie
what a group auditing and holding campanies in details with exmple propurly???
Permanent Audit File The permanent audit file might include, inter alia: a) A copy of the enterprise's statutes and other legal or statutory documents governing the enterpri
Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org
Develop a list of tasks the auditor should perform in planning this audit engagement, before any audit testing begins. Ans: It is in the interest of both client and auditor t
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