Question
AVF COMPANY processes an average of 400 voucher payable every month. each voucher package contains a copy of the checks disbursed and supporting documents such
AVF COMPANY processes an average of 400 voucher payable every month. each voucher package contains a copy of the checks disbursed and supporting documents such as vendor invoices, receiving report, and purchase orders. The internal auditor plans to examine a sample of vouchers listed i the register using attribute sampling to evaluate the effectiveness of several controls. The attributes of interest includes: agreement of voucher with amounts with invoice amounts,voucher cancel after payment. help with schedule based on 2% for the first attribute and 1 percent for the second. deviation rate 7% for first and 6% for the second. risk of assessing control too low at 5%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started