CIU W pus Unswer for full credit Part 1 An integrated test facility (ITF) is a method used by both internal and external auditors for testing IT-based system controls. Discuss the advantages and disadvantages of implementing an ITF. Part 2 The professional development department of a large CPA firm has prepared the following illustration to familiarize the audit staff with the relationships of sample size to population size and variability and the auditors' specifications in regard to the tolerable misstatement and the risk of incorrect acceptance. Auditors' Specifications as to a Sample from Population 1 Relativo to a Sample from Population 2 Planned Risk of Incorrect Acceptance Case 1 Case 2 Case 3 Case 4 Case 5 Characteristics of Population 1 Relative to Population 2 Size Variability Larger Equal Equal Larger Larger Smaller Smaller Smaller Equal Tolerable Misstatement Equal Larger Smaller Equal Equal Equal Equal Lower Higher Equal Larger Required: For each of the five cases in the above illustration, indicate the relationship of the sample size to be selected from population 1 relative to the sample from population 2. Select your answer from the following responses and state the reasoning behind your choice. The required sample size from population 1 is: (1) Larger than the required sample size from population 2. (2) Equal to the required sample size from population 2, (3) Smaller than the required sample size from population 2. (4) Indeterminate relative to the required sample size from population 2 CIU W pus Unswer for full credit Part 1 An integrated test facility (ITF) is a method used by both internal and external auditors for testing IT-based system controls. Discuss the advantages and disadvantages of implementing an ITF. Part 2 The professional development department of a large CPA firm has prepared the following illustration to familiarize the audit staff with the relationships of sample size to population size and variability and the auditors' specifications in regard to the tolerable misstatement and the risk of incorrect acceptance. Auditors' Specifications as to a Sample from Population 1 Relativo to a Sample from Population 2 Planned Risk of Incorrect Acceptance Case 1 Case 2 Case 3 Case 4 Case 5 Characteristics of Population 1 Relative to Population 2 Size Variability Larger Equal Equal Larger Larger Smaller Smaller Smaller Equal Tolerable Misstatement Equal Larger Smaller Equal Equal Equal Equal Lower Higher Equal Larger Required: For each of the five cases in the above illustration, indicate the relationship of the sample size to be selected from population 1 relative to the sample from population 2. Select your answer from the following responses and state the reasoning behind your choice. The required sample size from population 1 is: (1) Larger than the required sample size from population 2. (2) Equal to the required sample size from population 2, (3) Smaller than the required sample size from population 2. (4) Indeterminate relative to the required sample size from population 2