Audit procedures. Be able to identify whether a procedure is a test of control or a substantive test, the type of evidence used, and the audit objective tested.

Audit risk njodel. Factors affecting acceptable audit risk, inherent risk, control risk, acceptable detection risk and level of evidence gathered.

Attribute sampling. Factors that affect tolerable deviation rate, expected deviation rate and acceptable risk of overreliance $($i$.$e$.,$ how do we determine the level of each factor or what is each factor based on$?)$ As each factor increases, what is the effect on sample size?

Audit of cash. Based on a schedule of interbank transfers, be able to identify and explain the following types of situations: deposit$-$in$-$transit, outstanding check, unrecorded check, unrecorded deposit, and kiting $($see handout and homework$)$

Audit of cash. What are the procedures in auditing cash? Which audit objective does each procedure relate to$?($see handout$)$

Monetary Unit Sampling. A problem very much like the problems we covered $($in class and in the handout$).$ Know how to do all the calculations. You will receive the necessary tables. However, you do need to know all the formulas$/$procedures for MUS sampling $($formulas will not be provided$).$