What is the connection between possible assessments of control risk and a judgment about tolerable rate, both
Question:
What is the connection between possible assessments of control risk and a judgment about tolerable rate, both considered prior to performing test of controls audit procedures?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
The connection is a direct relationship between control risk and the tolerable deviation rat...View the full answer
Answered By
Jehal Shah
I believe everyone should try to be strong at logic and have good reading habit. Because If you possess these two skills, no matter what difficult situation is, you will definitely find a perfect solution out of it. While logical ability gives you to understand complex problems and concepts quite easily, reading habit gives you an open mind and holistic approach to see much bigger picture.
So guys, I always try to explain any concept keeping these two points in my mind. So that you will never forget any more importantly get bored.
Last but not the least, I am finance enthusiast. Big fan of Warren buffet for long term focus investing approach. On the same side derivatives is the segment I possess expertise.
If you have any finacne related doubt, do reach me out.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Business questions
-
For Oak Hills, what is the connection between demand management and the supply chain?
-
What is the connection between the retained earnings amount shown in the statement of changes in equity and the statement of financial position?
-
What is the connection between SWOT analysis and planning assumptions?
-
Can you find a function such that (-2) = -2, (2) = 6, and '(x) < 1 for all x? Why or why not?
-
Name the coenzymes that a. allow electrons to be delocalized b. activate groups for further reaction c. provide a good nucleophile d. provide a strong base
-
Consider the circle whose equation is x 2 + y 2 = 25. (a) What are the coordinates of its center? (b) What is its radius? (c) Sketch its graph.
-
The Journal of Testing and Evaluation (July 1992) published an investigation of the mean compression strength of corrugated fiberboard shipping containers. Comparisons were made for boxes of five...
-
The Maple Lake branch of Buffalo State Savings Bank (BSSB) is a retail branch in a rapidly growing residential area. It services individuals and local businesses. To support its services, the branch...
-
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling...
-
The adjusted trial balance of Karise Repairs on December 31 follows. KARISE REPAIRS Adjusted Trial Balance December 31 Number Account Title Credit Debit $ 26,000 101 Cash 124 Office supplies 2,000...
-
What is the probability of finding one or more deviations in a sample of 100 units if the deviation rate in the population is only 0.5%?
-
What is the connection between material dollar misstatement assigned for the substantive audit of a balance and tolerable deviation rate used in a test of controls sample?
-
The writer wants to add the following sentence to Paragraph 4: Approximately 15 sightings were reported in early 2004, all possibly of the same bird. This sentence would most logically be placed: A....
-
Directions: Put your feet in the shoes of the business owner and suggest specific ways on how a business can gain profit and how it can be avoid loss Ways to Gain Profit 1. 2. 3. 4. 5. 1. 2. 3. 4. 5....
-
Define business intelligence Briefly discuss how your organisation can use business intelligence to improve decision-making Please see below rubric as guidance. Kindly list references in APA 7th...
-
Mr Santos apply for college educational plan for his 3 children .The 3 children ages are 6 yrs old , 3 yrs old and 1 yr old. The fund will be set-up the deposit of a fixed sum on the child's current...
-
Recovery Centers of America needs to acquire new vehicles that will cost $2.5 million across its six state service area. It plans to use the vehicles for three years, at which time new vehicles will...
-
The following program is supposed to allow the user to enter a list of numbers, then print them out formatted with 2 decimal positions. However, there are 3 errors. Indicate the line number of each...
-
An outdoor restaurant in a summer resort closes only on rainy days. From past records, it is found that from May through September, when it rains one day, the probability of rain for the next day is...
-
(a) With not more than 300 words, examine why Malaysia missed its 2020 targets to divert 40% of waste from landfills and increase recycling rates to 22%. (10 marks) b) Why arent Malaysian recycling?...
-
The following auditee-prepared bank reconciliation is being examined by you during an audit of the financial statements of Cynthia Company: Required: Indicate one or more audit procedures that should...
-
a. You wish to test Houston Corporations sales cutoff at June 30. Describe the steps you should include in this test. b. You obtain a July 10 bank statement directly from the bank. Explain how this...
-
Several accounts receivable confirmations have been returned with the notation verification of vendor statements is no longer possible because our data processing system does not accumulate each...
-
Jennifer purchased a home for $1,000,000 in 2016. She paid $200,000 cash and borrowed the remaining $800,000. This is Jennifer's only residence. Assume that in year 2024, when the home had...
-
business plan describing company with strengths and weaknesses. Any gaps in plan. Recommendations for improvement of the plan.
-
You wish to buy a car today for $35,000. You plan to put 10% down and finance the rest at 5.20% p.a. for six years. You will make equal monthly payments of $_______.
Study smarter with the SolutionInn App