I NEED HELP ANSWERING THESE QUESTIONS FOR CHAPTER 5

ACC 693 Chapter 5 Quiz Note: The material contained within these pages is taken directly from your textbook, Computerized Auditing Using ACL Data Analytics. Alterations were made only for formatting and the omission of specific questions. Reference Arens, A. A., Elder, R. J., & Borsum, C. J. (2013). Computerized Auditing Using ACL Data Analytics. (3rd ed.). Okemos, MI: Armond Dalton Publishers, Inc. Assignment #1 Sample Command - MUS Sampling (Note: Questions 1 and 2 use the summarized Ap_Trans table from work on pages 5-2 and 5-3; Questions 3 through 6 use the Ar table.) Q 1. Indicate the sample size if you change the sample parameter indicated below. Keep the other parameters -at the original amounts (90% confidence level, $60,000 materiality, and no expected errors). a. Confidence level of 95%: b. Materiality of $80,000: c. Expected error of $5,000: Q 2. Indicate the following for your evaluation of the accounts payable sample you selected on pages 5-2 and 5-3: a. Basic precision b. Most likely error c. What is the most likely error if the sample error of $300 was in the account with a balance of $35,968.34? d. Indicate whether the auditor should accept the sample results and the reason that these results were obtained. Next, use the Sample command to select a sample of accounts receivable for confirmation. Folder: Accounts_Receivable_Audit Sub folder: AR_Test_ Scripts Table: Ar You will use the Sample command to select a sample of monetary units of account balances in the Ar fle. Remember, you must frst summarize the transactions to generate customer balances. You have decided that all accounts over $25,000 are key items and will be tested separately, and you should also exclude any negative balances from accounts receivable. Management also asked you not to send a confrmation to customer 222006. Q 3. What was the adjusted population $ value you used to determine sample size and select the sample? Q 4. Calculate the sample size and sampling interval assuming a 90% confidence level, $25,000 materiality, and expected error of $1,000. Q 5. Select the sample using the sampling interval computed in Question 4. Use interval sampling and a random start of 2189 for the Start box. Save the results in an output table (a new ACL table) called Ar_MUSsample. Q 6. What were the largest and smallest sample items included in your sample? Sample Command - Record Sampling (Inventory table) Q 2. Use the Sample 7 Calculate Sample Size command. Indicate the required sample size on the inventory table if the confidence level is 95%, the upper error limit is 7%, and no errors are expected. Q 3. Most inventory populations would be much larger than the table in Sample Project. Change the population size to 10,000 records (the confidence level remains at 95%, the upper error limit is 7%, and no errors are expected). Indicate the sample size. Explain this result compared to the sample size you determined in Question 2. Use the Sample command to select a random sample of 20 records from the Inventory table from items that have a total cost value (feld name = Inventory_Value_at_Cost) of more than $0, but less than or equal to $10,000. Use a seed number of 9,367. (Use a flter, run the Count command, then run the Sample command on the fltered data. It is not necessary to extract the fltered data to a new table). Save the results to an output table called /NV_ Random_ Sample. Q 4. What population size was in the Sample window? Where did this information come from? Join Command (Note: Question 1 uses the hypothetical information given on page 5-4; Question 3 uses the Payroll and Empmast tables.) Q 1. What is the appropriate common field for the Join (using hypothetical information on page 5-4)? Q 3. You will be using the Join command shortly with the Payroll and Empmast tables in the Payroll Analysis subfolder to determine if checks were issued to invalid employees. The first step is to address the six rules that must be satisfied before performing a Join command. For each of the following, answer the questions asked for each rule. Use ACL to determine if the six rules are satisfed. 1. The two input tables must be in the same ACL project. Select the correct answer below. __Yes __No 2. Only two tables can be joined at one time. Identify the two tables. 3. Both tables must contain a common key field that will be used to join the tables. Name the field. 4. The key field must be the same length in both tables. What is the length of each? 5. The key field in both tables should be tested for blanks. Write the Global filter you used to check the Empmast table for blanks. Were there any blanks? Select the correct answer below. __Yes __No 6. The key field in both tables should be tested for duplicates. Were there any duplicates in either table? Select the correct answer below. __Yes __No If so, is it in the secondary table? Select the correct answer below. __Yes __No You are now ready to run the Join Command. Assume for the rest of the Join commands on these two tables that all six rules were satisfied. Recall from earlier that you are to use the Join command for the Payroll and Empmast tables in the Payroll Analysis subfolder to determine if any checks were issued to invalid employee numbers. You are not interested in whether pay amounts are consistent between the tables. First, examine the diagrams on pages 58 through 60 of the Reference materials to determine which type of Join to perform. Because the objective is to find checks issued to invalid employee numbers, an Unmatched Primary Records Join will isolate records in the Payroll table (the primary table) that do not have matching employee numbers in the Empmast table (the secondary table). Follow the steps on pages 54 through 56 of the Reference materials to create an Unmatched Primary Join table that will include pertinent information for checks issued to employees who are not in the master fle table. The joined table needs to contain only the employee number from the primary table, but also include the check number for additional information. Note: Because you are executing an Unmatched Primary Join, it is not necessary to choose the secondary fields to include in the joined table. By definition, the Unmatched Primary joined table will not include anything from the secondary table. Follow the steps on pages 54 through 56 of the Reference materials to create a joined Matched Primary; Includes ALL Primary; Includes All Secondary table that includes the required information from the two previous Join commands. Decide the appropriate felds to include from both the primary and secondary tables. Prepare three separate global flters to obtain the same information that you obtained in the two previous joins. Q 9. What is the advantage and disadvantage of the Matched Primary; Includes all Primary; Includes All Secondary join? Relations Command (Trans and Inventory tables, related) Create the following flter: Product Number = Inventory.Product Number. Q 3. Explain what the result means. Q 4. Which of the five Matched or Unmatched Primary options for the Join command is this filter equivalent to? Next go to pages 5-17 and 5-21 of this book and briefly review the frst two Join command tasks you performed for the Payroll and Empmast tables: (1) checks issued to invalid employees and (2) valid employees that were either not paid or were paid an incorrect amount. Use the Relations command to accomplish the same result for each Join command task. Create two flters, one equivalent to the Unmatched Primary Records Option and the other equivalent to the Matched Primary Records Option. Print the output from both Relations commands. Next, with the Payroll table open, add the three Payroll Analysis tables that are not already included in the Relations window. There should now be fve tables in the window. Use the mouse to separate each table to better see when you establish relationships from the parent to each child. Examine the Table Layout for each table. Q 5. Which of the tables cannot be related to the Payroll table? Q 6. Why is it not possible to determine if any employees are sales reps using these five tables