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You have been asked to test the effectiveness of Ingo Corporation's control of manually approving all purchases over $ 2 5 , 0 0 0
You have been asked to test the effectiveness of Ingo Corporation's control of manually approving all purchases over $ During the year, Ingo Corporation has made purchases, of which were over $ Jian Zhang, CPA, your supervisor, asked you to use a tolerable deviation rate of percent although she expects the rate to be only approximately percent and a percent risk of assessing control risk too low. Use the following to determine the planned assessed level of control risk and the assessed level of control risk.
tablePlanned Assessed Level of Control Risk,tableTolerableDeviationRatetableLowModerate
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