What audit purpose is served by stratifying an account balance population and by selecting some units from

Question:

What audit purpose is served by stratifying an account balance population and by selecting some units from the population for 100% audit verification?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing An International Approach

ISBN: 978-0071051415

6th edition

Authors: Wally J. Smieliauskas, Kathryn Bewley

See More Books

Question Posted: Jan 09, 2015 09:36 AM

See More Questions

How does stratifying an account balance population for sampling differ from using data analytics to audit the entire balance?
1. What business purpose is served by the L-1 visa program? 2. Does the INA impose the burden of proof on the transferee and his or her employer to demonstrate that the transferees responsibilities...
What purpose is served by issuing callable bonds?
Dozier Industries Inc. manufactures only one product. For the year ended December 31, 2014, the contribution margin increased by $38,500 from the planned level of $1,386,000. The president of Dozier...
Describe the relationship of discriminant analysis to regression and ANOVA.
Hernadez Trophies makes and sells trophies it distributes to little league ballplayers. The company normally produces and sells between 10,000 and 13,000 trophies per year. The following cost data...
2-1. Cul es la diferencia entre una empresa comercial y una organizacin no lucrativa ?
Prepare a cash flow projection for a construction company that currently has two projects under contract for the next year and anticipates picking up a third and fourth project during the year. For...
Alden Co.'s monthly unit sales and total cost data for its operating activities of the past year follow. Management wants to use these data to predict future fixed and variable costs. Month Month...
CSM Worldwide forecasts global production for all automobile manufacturers. The following CSM data show the forecast of global auto production for General Motors, Ford, DaimlerChrysler, and Toyota...
Write the expanded risk model. What risk is implied for test of detail risk when IR = 1.0, CR = 0.40, APR = 0.60, AR = 0.048, tolerable misstatement = $10,000, and the estimated standard deviation in...
What kind of evidence evaluation consideration should an auditor give to the dollar amount of a population unit that cannot be audited?
Determine the depth of water behind the dam in the figure that will provide a flow rate of 5.675 Ã 10 -4 m 3 /s through a 20-m-long, 1.30 cm commercial steel pipe. 1.30 cm -L-
How can you filter on a particular data field in Cognos Analytics? 0 / 1 point Type in the name of the field in the 'Filters' area at the top of the page. Drag the data field to the 'All tabs' area...
Project management is fundamental to project success and includes a number of critical success factors including support of top management, use of effective communication channels and rapid feedback,...
BIO 189: what are some of the ethical issues regarding his results? why were his results rejected by the scientific community? choose two components below that were either flawed or completely absent...
REQUIRED: Prepare Cost of Production per department. Problem 5 ABM Company uses two departments to produce a product. The following data were taken from the books for the month of January, 2019....
Can you describe how Toyota responds to changes in market fluctuations, and plot the supply and demand curves indicating managerial economic principles (i.e. price ceilings/floors, shortage/surplus,...
For each set of data below, calculate the sample size (N), the mean (X), the standard deviation (s), the standard error of the mean (S X ), and the t-statistic (t). Note: assume = 12. a. 9, 14, 17,...
Provide a few individual examples who revealed what aspects of emotional intelligence?
Reconsider Problem 41. a. What is the cost per unit of Virtually Impenetrable if LockTite uses traditional overhead allocation based on number of units produced? b. What is the cost per unit of...
Identify four main purposes of auditing procedures used in the three steps of the audit process.
Explain why risk assessment and control testing procedures give indirect rather than direct audit evidence relevant to the audit opinion.
Explain why substantive audit procedures provide direct evidence relevant to the audit opinion.
En prenant un exemple de votre choix, montrer comment on value un swap de taux de change.
How much would you need to invest today in order to receive: a. $10,000 in 5 years at 11%? b. $11,000 in 12 years at 8%? c. $12,000 each year for 10 years at 8%? d. $12,000 at the beginning of each...
A company that manufactures pulse Doppler insertion flow meters uses the Straight Line method for book depreciation purposes. Newly acquired equipment has a first cost of $190,000 with a 3-year life...

What audit purpose is served by stratifying an account balance population and by selecting some units from

Question:

Step by Step Answer:

Two main audit purposes for stratifying a population when sampling for variables mone...View the full answer

Auditing An International Approach

Students also viewed these Auditing questions