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Please i need help in answering these auditing questions. thank you. Chapter 9- Audit Sampling How to evaluate the results of a sample What is

Please i need help in answering these auditing questions. thank you.

Chapter 9- Audit Sampling

  • How to evaluate the results of a sample
  • What is a tolerable rate/ tolerable misstatement
  • How to calculate the audited value using (meanper-unit, difference estimation, and ratio methods)
  • Attribute samples what are they used for, what are the key inputs to determine sample size
  • Different methods used to pick samples from a population
  • The difference between statistical and nonstatistical samples
  • What is the risk of assessing control risk to high/low and the risk of incorrect acceptance/incorrect rejection
  • What are some of the auditors concerns when picking a sample what can go wrong
  • Relationship of tolerable rate/materiality, risk of assessing control risk too high/too low, population, expected deviations, etc. to sample size.
  • Understand PPS sampling what are the steps to performing this sampling technique, understanding what a sampling interval is, and how it is calculated
  • Why and when is PPS sampling the best method to use, what are some flaws and positives of PPS sampling
  • Understand the definition of standard deviation
  • Difference between CVS (classical variable sampling) and PPS
  • Understand how to evaluate the results of a PPS sample (Tainting percentage, when projection makes sense, etc)
  • Understanding when ratio estimation technique to evaluate a CVS sample is the best way to calculate differences/estimate population value.
  • Understand what causes sample sizes to increase and decrease in CVS and PPS sampling
  • Understand key terms such as tolerable misstatement, expected misstatement, recorded amount, audited amount.

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