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Can anyone please help me with this article review paper? It has to exactly 3 double space pages. The article and the rubrics are attached.
Can anyone please help me with this article review paper? It has to exactly 3 double space pages. The article and the rubrics are attached. Much appreciated.
Article 2 Grading Rubric I not will accept direct quotations in your article reviews. If you use an outside source, you should paraphrase it in your own words and not quote it. Maximum Points 10 20 Item Description Points Basic requirements The length of the paper is three double spaced pages, not including any sources cited. There will be a two percentage point deduction for each page in excess of three. You should use 1" margins and 12 point font. 10 Writing The paper should be free from typographical and grammatical errors and be well written. This means it follows APA guidelines covered in class except that you do not need a cover page and only need to include the sections described below. In addition, the paper should use professional business terms and not colloquialism. It also should employ simple, direct phrasing and avoid run-on sentences and paragraphs. Finally, this is not a research project and you do not need to use outside sources. However, if you do, your bibliography or works cited page will not count toward the three page limit. 20 50 Content 20 100 Overall Total The review should clearly summarize the main points of the article and analyze its contents and contribution to auditing. Students also should demonstrate analytical thinking by stating how the content of the article supports the material from the class and analyzing the content of the article. I appreciate that this is pretty vague, but the nature of your opinion will vary depending on the nature of the article. Your review should contain an Article Review section that summarizes the main points of the article. It also should have an Importance to Auditing section and an Evaluation and Conclusions section where you should demonstrate your analytical thinking skills. These last two sections should make up around half of your paper. By evaluation, I do not mean evaluating how the article was written. I mean evaluating the content and conclusions of the article and providing your opinion on them. This section is an overall judgment by the professor as to how well the paper works. 50 20 100 Comments Myths and Inconvenient Truths about Audit Sampling An Audit Partner's Perspective Nonsampling Setting the Stage Nonstatistical Sampling 6 APRIL 2014 / THE CPA JOURNAL Statistical Sampling -ONETARY\u0000UNIT\u0000SAMPLING\u0000\b-53\t\u000e MYTHS AND TRUTHS ABOUT AUDIT SAMPLING Myths %QUAL\u0000PROBABILITY\u0000SAMPLING\u000e\u0000 Errors in data are nonexistent, or so rare that it is a waste of time trying to detect any errors. Understated = conservative, therefore auditors don't need to worry about understatement. MUS is an appropriate tool when concerned about both over- and understatement. Extrapolating the error rate from a nonstatistical sample is a valid means of estimating error in the untested population. APRIL 2014 / THE CPA JOURNAL This is a 100% audit. Truths Virtually all audits involve sampling. Stuff happens. Humans are not perfect and computer systems are designed by humans. Risk assessment drives the scope, but one cannot audit based on an assumption that errors do not exist. In many scenarios, auditors are mostly concerned about overstatement and little concerned with understatement. Testing for overstatement is relatively easy (MUS); testing for understatement is relatively difficult (CVS). Statistical sampling results take into account sampling risk, and can be used as a proposed adjusting journal entry. 7 Practical Approach 1 3TEP\u0000\u0011\u000e\u0000 3TEP\u0000 \u0013\u000e\u0000 Two Practical Approaches 3TEP\u0000\u0014\u000e\u0000 3TEP\u0000\u0015\u000e\u0000 3TEP\u0000\u0012\u000e\u0000 EXHIBIT 1 Results for Practical Approach 1 Sample Number 8 Number of Misstatements Rate of Misstatement Precision Lower Confidence Estimated Misstatement Upper Confidence Proposed Correction 1 13 7.4% 286,692 (258,141) 28,552 315,244 2 17 9.7% 478,327 (257,115) 221,212 699,540 3 15 8.6% 315,483 (550,994) (235,510) 79,973 4 15 8.6% 237,220 (399,814) (162,594) 74,626 5 8 4.6% 252,794 (324,703) (71,908) 180,886 6 17 9.7% 800,424 (368,253) 432,171 1,232,594 Reject 7 21 12.0% 368,268 (493,441) (125,174) 243,094 8 10 5.7% 334,009 (329,553) 4,457 338,466 9 17 9.7% 330,763 (772,299) (441,536) (110,774) 10 14 8.0% 346,298 (697,857) (351,558) (5,260) APRIL 2014 / THE CPA JOURNAL Many auditors may not like the idea of proposing correction where none is needed, but in the real world you will never know whether the population is misstated. EXHIBIT 2 Results for Practical Approach 2 Sample Number Number of Misstatements Rate of Misstatement Lower Confidence Estimated Misstatement 11 10 8.6% 853,594 (684,355) 169,240 1,022,834 Reject 12 8 6.9% 464,457 (842,441) (377,984) 86,473 (42,441) 13 10 8.6% 561,791 (176,698) 385,093 946,884 146,884 14 16 13.8% 740,005 (866,017) (126,012) 613,993 (66,017) 15 7 6.0% 461,602 (769,426) (307,825) 153,777 16 11 9.5% 313,667 (288,498) 25,170 338,837 17 11 9.5% 293,546 (300,782) (7,236) 286,309 18 13 11.2% 658,178 (1,071,067) (412,889) 245,288 (271,067) 19 5 4.3% 442,952 (282,611) 160,341 603,293 20 12 10.3% 836,411 2,566 838,977 1,675,388 Reject APRIL 2014 / THE CPA JOURNAL Precision Upper Confidence Proposed Correction 9 3TEP\u0000\u0012\u000e As much as auditors might like to ignore the risk of Which Is the Better Approach? understatement, the auditor's report speaks of material misstatement. That is a bidirectional concept. 3TEP\u0000\u0013\u000e 3TEP\u0000 \u0014\u000e\u0000 3TEP\u0000 \u0015\u000e Practical Approach 2 3TEP\u0000 \u0011\u000e\u0000 (OWARD\u00003IBELMAN\f\u0000-"4\f\u0000#0! 10 APRIL 2014 / THE CPA JOURNAL Copyright of CPA Journal is the property of New York State Society of CPAs and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual useStep by Step Solution
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