Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 15, Problem 14RQ
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Determine the meaning of sampling unit and reason for difference in sampling unit for recorded sale and possibility of omitted sales.
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Students have asked these similar questions
What is dual-direction test of controls sampling in the revenue and collection cycle?
Which of the following statistical techniques are used to test controls?
Mean-per-unit sampling.
Attribute sampling.
Difference estimation.
Ratio estimation.
Which of the following is an advantage of nonstatistical sampling?a. It measures the audit team’s exposure to sampling risk.b. It is required by generally accepted auditing standards.c. It ensures that samples are randomly selected.d. It is typically less complex than statistical sampling
Chapter 15 Solutions
Auditing And Assurance Services
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- What is the connection between audit sampling and audit data mining?arrow_forwardThe unique feature of monetary unit sampling is thata. Sampling units are not chosen at random.b. A dollar unit selected in a sample is not replaced before the sample selection is completed.c. Auditors need not worry about the risk of incorrect acceptance decision.d. The population is defined as the number of monetary units in an account balance or class of transactions.arrow_forwardAttribute Sampling and Monetary-Unit Sampling are two sampling techniques designed to help an auditor test controls. Discuss how each are different and provide an example of how you would decide which one to use if you were auditing a company’s credit-check control for customer orders. Defend which technique, in your opinion, is more reliable. Provide examples to support your opinion.arrow_forward
- Which of the following audit procedures uses “a purchase transaction” as the sampling unit? A. Trace customer orders to the purchase journal. B. Trace purchase transactions from the purchase journal to the customer orders. C. All of the options use “a purchase transaction” as the sampling unit. D. Trace receiving reports to the purchase journal. E. Examine purchase orders for evidence of the manager’s approval.arrow_forwardWhat is the formula for Audit Sampling?arrow_forwardA type of sampling application in which a relatively small initial sample is examined anddecisions regarding expanding that sample are based on the results of this initial sample isknown asa. Attributes sampling.b. Discovery sampling.c. Sequential sampling.d. Statistical sampling.arrow_forward
- How does Block Sampling compare to other sampling methods?arrow_forwardUnderstand how to use sequential sampling,discovery sampling, and nonstatisticalsampling in attributes testing.arrow_forwardAn auditor typically selects samples when testing controls. What are some factors that affect the sample sizes used when testing controls?arrow_forward
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