Assume that you are auditing a random sample of 100 sales vouchers and find one improperly authorized
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Assume that you are auditing a random sample of 100 sales vouchers and find one improperly authorized error. The achieved upper limit of control failures is 4.7 percent at a 5 percent risk of assessing control risk too low. What does this achieved upper limit mean?
How do you decide whether this result indicates that the control is working as expected?
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