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In performing a test of controls for sales order approvals, the CPAs stipulate a tolerable deviation rate of 8 percent with a risk of assessing control risk too low of 5 percent. They anticipate a deviation rate of 2 percent.a. What type of sampling plan should the auditors use for this test? b. Using the appropriate table or formula from this chapter, compute the required sample size for the test. c. Assume that the sample indicates four deviations. May the CPAs conclude with a 5 percent risk of assessing control risk too low that the population deviation rate does not exceed the tolerable rate of 8 percent? d. Use ACL to compute the required sample size for the test. Assume that the population size is composed of 100,000 items. e. Assume that the sample indicates four deviations using the sample size determined in d.Use ACL to calculate the results. May the CPAs conclude with a 5 percent risk of assessing control risk too low that the population deviation rate does not exceed the tolerable rate of 8 percent?
IAS 40 Investment Properties Audit work common to all kinds of land and building will be used to establish ownership, existence and price. IAS 40 requires such companies may a
Plz assist me with these questions The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now
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For each ethical threat explain how it might be avoided?
what is service bureau system
main areas contained in a private audit
Forms of evidence a) Observation: is usually witnessing internal control and book-keeping procedures. It includes attendance at wages pay out. Observation of stock-take, open
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