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Audit Sampling - Part 1 ( February 2 0 2 3 ) Duffney, CPA will now apply his testing ( sample of 1 0 0
Audit Sampling Part February
Duffney, CPA will now apply his testing sample of AR accounts to the Universe AR $ to make an opinion on whether WillMart's AR balance of $ is fairly stated using the three methods. Mean Per Unit, Ratio Estimation & Difference Estimation
Mean Per Unit formula
Pull amounts from chart listed on page
tabletableAuditedMeanxtableTotal Accounts InThe UniversetableAuditor EstimatedValue of account
Using the Mean per Unit method, the auditor applies the error rate from the audit tested sample to the universe AR account $ and determines the client's AR account should be $
Using the Mean per Unit method, the auditor applies the error rate from the audit tested sample to the universe AR account $ and determines the client's AR account is overstated by $
Projected Misstatement client's account overstated by $
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