Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are auditing accounts receivable for a small company and have found the following results: Number and Size of Client Accounts 1,202 accounts $1,000 Book
You are auditing accounts receivable for a small company and have found the following results: Number and Size of Client Accounts 1,202 accounts $1,000 Book Value of Stratum $ 948,378 $ 777,504 Book Value of Sample $ 59,175 $ 36,400 Audit Value of Sample $ 51,256 $ 34,400 A. Use ratio projection to project your results. B. Suppose the tolerable misstatement for accounts receivable is $200,000. 1. What is the conclusion the auditor can make at this time? 2. What should the auditor do now
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started