Identify when an auditor would not use sampling to test the effectiveness of a control or perform
Question:
Identify when an auditor would not use sampling to test the effectiveness of a control or perform a substantive tests of transactions. Explain circumstances when an auditor could test the entire population using a data analytic procedure using audit software.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
An auditor would not use sampling for certain procedures that do not involve testing a p...View the full answer
Answered By
GERALD KAMAU
non-plagiarism work, timely work and A++ work
4.40+
6+ Reviews
11+ Question Solved
Related Book For
Auditing And Assurance Services An Integrated Approach
ISBN: 9780135176146
17th Edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
Question Posted:
Students also viewed these Business questions
-
List audit evidence types that do not involve sampling and provide an example of a situation where an auditor would not use audit sampling.
-
For each of the following controls, identify whether the control leaves a paper audit trail. Also identify a test of control audit procedure the auditor can use to test the effectiveness of the...
-
Auditors often have to test the effectiveness of infrequently operating controls, such as monthly closing and reconciliation processes. Determining the appropriate extent of testing of such controls...
-
1-Is it a good business strategy to have a day care center, Harley Davidson Motorcycle Dealership Sales and repair, Namaste Yoga studio, bookstore, temporary worker (day laborer) center, state prison...
-
Refer to Exercise 9.11, where a zoologist collected 20 wild lizards in the southwestern United States. Do these data substantiate a claim that the mean length is greater than 128 mm? Test with = .05.
-
Because Natalie has been so successful with Cookie Creations and her friend Curtis Lesperance has been just as successful with his coffee shop, they conclude that they could benefi t from each others...
-
Suppose you get a job at MobileTV, a small manufacturer of TV sets installed in cars and boats. Business has declined recently, foreign rivals from emerging markets are increasing competition, and...
-
Using the following figure, perform resource leveling. Assume that each task can be performed independently of the othertasks. Task 1 (2 workers) Task 2 (1 worker) Task 3 (3 workers) I Task 4 (2...
-
3. You are evaluating two investment alternatives. One is a passive market portfolio with an expected return of 10% and a standard deviation of 16%. The other is a fund that is actively managed by...
-
1.Analyze the roles and responsibilities of clinicians in the healthcare industry. 2. Explain the relationships between reimbursement and practice patterns of clinicians. 3. Describe the training and...
-
Explain the difference between an attribute and an exception condition. State the exception condition for the audit procedure: The sales invoice has been approved, indicating the performance of...
-
Identify the factors an auditor uses to decide the appropriate TER. Compare the sample size for a TER of 7 percent with that of 4 percent, all other factors being equal.
-
This exercise tests your understanding of accounting for inventory. Provide a word or phrase that best fits the description. Assume that the cost of inventory is rising. __ 1. Generally associated...
-
Why do you think diversity is important to organizations and what can a do to increase diversity in leadership? What is Servant Leadership? How can you apply this in your life? What is effective team...
-
How do you envision overcoming any potential resistance or skepticism from your colleagues in the vet tech field as you introduce these transformative strategies, and what steps do you think will be...
-
Managers encourage employees to do misleading activities such as speak falsehood and deceive customers which is clearly visible in the statement in the case " Sales are everything" wherein an...
-
Your Topic is "Why do you think there are so few people who succeed at both management and leadership? Is it reasonable to believe someone can be good at both?" Locate two to three articles about...
-
Explain the various benefits associated with professional networking. Also, expand on your answers how those would benefit you personally. PLEASE DO FAST AND CORRECT need correct answer
-
If z = f(x, y), where x = r cos and y = r sin , show that (a) z/r (b) z/ (c) 2 z/r .
-
Identify one local business that uses a perpetual inventory system and another that uses a periodic system. Interview an individual in each organization who is familiar with the inventory system and...
-
The following are concepts discussed in this chapter: 1. Preliminary judgment about materiality 2. Control risk 3. Risk of fraud 4. Estimated total misstatement in a segment 5. Planned detection risk...
-
Describe what is meant by acceptable audit risk. Explain why each of the following statements is true: Required a. A CPA firm should attempt to achieve the same audit risk for all audit clients when...
-
Bohrer, CPA is considering the following factors in assessing audit risk at the financial statement level in planning the audit of Waste Remediation Services (WRS), Inc.'s financial statements for...
-
Your company produces a health magazine. Its sales data for 1 - year subscriptions are as follows: Year of Operation Subscriptions Sold % Expired at Year End 2 0 2 0 $ 3 0 0 , 0 0 0 5 2 0 2 1 $ 6 4 7...
-
Problem 3 - 2 0 ( Static ) Calculate profitability and liquidity measures LO 3 - 3 , 3 - 4 , 3 - 6 Presented here are the comparative balance sheets of Hames Incorporated at December 3 1 , 2 0 2 3...
-
3 Required information [The following information applies to the questions displayed below) John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter. Samantha. In 2020,...
Study smarter with the SolutionInn App