375 Audit Sampling Ter Nine LO 9-8 943. Smith Company: Ratio and Difference Estimation Note: This problem uses the information presented in the previous question and extends the analysis to ratio and difference estimation. Use the replies presented in the preceding problem for this problem. a. Use the ratio method to calculate: (1) Projected misstatement. (2) Estimated total audited value. b. Use the difference estimation method to calculate: (1) Projected misstatement. (2) Estimated total audited value The use of statistical sampling techniques in an audit of financial statements does not elimi nate iudgmental decisions. 9.6 9.44. 375 Audit Sampling Ter Nine LO 9-8 943. Smith Company: Ratio and Difference Estimation Note: This problem uses the information presented in the previous question and extends the analysis to ratio and difference estimation. Use the replies presented in the preceding problem for this problem. a. Use the ratio method to calculate: (1) Projected misstatement. (2) Estimated total audited value. b. Use the difference estimation method to calculate: (1) Projected misstatement. (2) Estimated total audited value The use of statistical sampling techniques in an audit of financial statements does not elimi nate iudgmental decisions. 9.6 9.44