What major difference between tests of controls and tests of details of balances makes attribute sampling inappropriate

Question:

What major difference between tests of controls and tests of details of balances makes attribute sampling inappropriate for tests of details of balances?

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

Step by Step Answer:

Related Book For book-img-for-question

Auditing The Art and Science of Assurance Engagements

ISBN: 978-0133098235

12th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

See More Books

Question Posted: Dec 17, 2015 06:28 AM

See More Questions

Explain the difference between tests of controls and substantive procedures. How are the results of tests of controls related to decisions about the nature, timing, and extent of substantive...
What major difference between (a) Tests of controls and substantive tests of transactions (b) Tests of details of balances makes attributes sampling inappropriate for tests of details of balances?
What is the relationship of each of the following to the sales and collection cycle: flowcharts, assessing control risk, tests of controls, and tests of details of balances?
Which of the following statements represent(s) how expenses affect equity? If expenses increase, then total equity decreases. If expenses decrease, then equity will decrease. Higher expenses result...
Bacterial digestion is an economical method of sewage treatment. The reaction is an intermediate step in the conversion of the nitrogen in organic compounds into nitrate ions. What mass of bacterial...
The file P02_11.xlsx contains data on 148 houses sold in a certain suburban region. a. Create a histogram of the selling prices. Is there any visual evidence that the distribution of selling prices...
Are our employees aware of what our organization's mission and goals are?
Separate company financial statements for Pen Corporation and its subsidiary, Syn Company, at and for the year ended December 31, 2012, are summarized as follows (in thousands): ADDITIONAL...
Chesterfield Company holds cash of $74.000, inventory worth $138,000, and a building worth $154,000 Unfortunately, the company also has accounts payable of $204.000, a note payable of $104,000...
Read the Wall Street Journal article Survival Strategies: After Cost Cutting, Companies Turn toward Price Increases by Timothy Aeppel (September 18, 2002, p. A1). The article reports an all-out...
Assume that the clients internal controls over the recording and classifying of capital asset additions are considered weak because the individual responsible for recording new acquisitions has...
Outline a situation for which discovery sampling would be used.
As chief lending officer for a bank, you need to decide whether to make a loan to The Coca-Cola Company. The current items, listed in alphabetical order, are taken from the consolidated balance...
A flat sheet is in the shape of a rectangle with sides of lengths 0.400 m and 0.600 m. The sheet is immersed in a uniform electric field of magnitude 85.0 N/C that is directed at 20 from the plane of...
You are a new BCBA working for a therapeutic day school that serves individuals with disabilities from ages 5 through 21. Each classroom has 1 special education teacher, 1 behavior therapist (BT) and...
Mountain Sports, Inc., is a retailer that has engaged you to assist in the preparation of its financial statements at December 31, 2021. Following are the correct adjusted account balances, in...
(a) sint 1-cost (b) Please note each question has 4 options: (a), (b), (c) and (d). 1. Given x = t - sint and y = 1 - cost, then dy 1-cost t-sint = 1-cost sint sint cost-1 2. Given sin x cos y - 2 =...
Sometimes I forget a few items when I leave the house in the morning. For example, here are probabilities that I forget various pieces of footwear: left sock 0.2 right sock 0.1 left shoe 0.1 right...
What are the advantages of using an OODBMS over an ORDBMS?
How can NAFTA be beneficial to suppliers of Walmart?
Why might the Standard & Poor's 500 Index be a better measure of stock market performance than the Dow Jones Industrial Average? Why is the DJIA more popular than the S&P 500?(LG3)
What is meant by cost accounting records, and what is their importance in the conduct of an audit?
Below is a transcript of a video conference call between Joe, the audit partner and Leslie, the audit manager. JA: Leslie. I just got off another video call with Avis. She gave me an update on...
You are part of the engagement team for the audit of Suzuki Manufacturing for the year ended December 31, 2020, and are responsible for auditing the acquisition cycle. Download the Excel file for the...
nformation pertaining to Noskey Corporation s sales revenue follows: November 2 0 2 1 ( Actual ) December 2 0 2 1 ( Budgeted ) January 2 0 2 2 ( Budgeted ) Cash sales $ 1 0 5 , 0 0 0 $ 1 1 5 , 0 0 0...
The management team of Netflix maintains a stable dividend using the Lintner model: Dt+1 = Dt + EPS Target Payout Where Dt (Dt+1) = dividend in the current period t (the next period t + 1) EPSt =...
#1 #2 hapter 50 10 D Werences lav Help Required information [The following information applies to the questions displayed below) Archer Company is a wholesaler of custom-built air-conditioning units...

What major difference between tests of controls and tests of details of balances makes attribute sampling inappropriate

Question:

Step by Step Answer:

Tests of controls include looking for deviations from clie...View the full answer

Auditing The Art and Science of Assurance Engagements

Students also viewed these Auditing questions