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Statistical sampling - Advantages
A. It is defensible and scientific;
B. It gives a precise mathematical statement for probabilities of to be correct;
C. It is efficient over large samples are not in use;
D. It tends to source uniform standards among different auditing firms;
E. It can be used through lower grade staff who due to lack of experience may be lacking the necessary judgment required through the judgment sampling.
Historic Costs Methods - Long Term Contracts You will notice such this exercise is completely dependent on the company estimating its further costs. This is wherever the audi
Summary of IAS 2 Inventories are measured at the lower of cost and net realizable value. Entire realizable price is the calculated selling price in the regular course of busin
Explain the independence between the auditor and the client on financial statement audit engagements
The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now focusing on the audit of revenue from
Advantages and disadvantages
project report on absorption of overhead and its different method
The International Auditing and Assurance Standards Board The IAASB is a Board familiar by IFAC. The associates of the IAASB are selected by the IFAC Board to serve on IAASB. IA
Determinants of amount of audit evidence
Statutory Audit is a mandatory audit done by a CA. Finance Audit is conducted by the CA to compliance the legal supplies of monitory issues. If the audit for a business or an orga
Important Points about Auditor - Audit Process The Points that should be noticed that: i. The auditor must forever date his audit report. This date should be as close as pr
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