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Johnson CPA Firm is auditing Micro Controls, Inc., a manufacturer of computer processors and microchips. Upon obtaining a sample of notes payable via the application
Johnson CPA Firm is auditing Micro Controls, Inc., a manufacturer of computer processors and microchips. Upon obtaining a sample of notes payable via the application of statistical sampling techniques, it has been determined by the auditors that the results of their obtained sample do not support the book value. As a result of this finding, what might the auditors decide to do? The auditors should attempt to obtain another sample or multiple samples to see if the discrepant findings hold. O The auditors should request written assurances from senior management, confirming that book values of the population in question are correct. O The auditors should consider the application of alternative auditing procedures. The auditors should then reassess the results. O None of the choices is correct.
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