Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 20, Problem 12RQ
To determine
Define the use of audit sampling to test the payroll and personnel cycle.
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Chapter 20 Solutions
Auditing And Assurance Services
Ch. 20 - Prob. 1RQCh. 20 - Prob. 2RQCh. 20 - Distinguish among a payroll master file, a W-2...Ch. 20 - Prob. 4RQCh. 20 - Prob. 5RQCh. 20 - Prob. 6RQCh. 20 - Prob. 7RQCh. 20 - Prob. 8RQCh. 20 - Prob. 9RQCh. 20 - Prob. 10RQ
Ch. 20 - Prob. 11RQCh. 20 - Prob. 12RQCh. 20 - Prob. 13RQCh. 20 - Prob. 14RQCh. 20 - Prob. 15RQCh. 20 - Prob. 16.1MCQCh. 20 - Prob. 16.2MCQCh. 20 - Prob. 16.3MCQCh. 20 - Prob. 17.1MCQCh. 20 - Prob. 17.2MCQCh. 20 - Prob. 17.3MCQCh. 20 - Prob. 18.1MCQCh. 20 - Prob. 18.2MCQCh. 20 - Prob. 18.3MCQCh. 20 - Prob. 19DQPCh. 20 - Prob. 20DQPCh. 20 - Prob. 21DQPCh. 20 - Prob. 22DQPCh. 20 - Prob. 23DQPCh. 20 - Prob. 24DQPCh. 20 - Prob. 25DQPCh. 20 - Prob. 26DQPCh. 20 - Prob. 27DQPCh. 20 - Prob. 28C
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- For which of the following audit tests would an auditor most likely use attribute sampling? Making an independent estimate of the amount of FIFO Inventory. Examining invoices in support of the valuation of fixed asset additions. Selecting accounts receivable for confirmation of account balances Inspecting employee time cards for proper approval by supervisors.arrow_forwardWhat is the purpose of analytical reviews in the audit of revenue cycle accounts? Please give an example.arrow_forwardWhat is stratification? What are the benefits to the audit team of stratifying the sample?arrow_forward
- What is dual-direction test of controls sampling in the revenue and collection cycle?arrow_forwardWhat information does the audit team typically document in an attributes sampling application?arrow_forward1. Please explain how to Evaluate the Data Reliability When Developing Expectations. The data an auditor will use to develop expectations in the acquisition and payment cycle has been deemed reliable by the audit staff. 2. Please Discuss the likely factors the audit team will consider when making this determination.arrow_forward
- Apply your knowledge to perform audit procedures in the revenue and collection cycleand evaluate the findings of your tests.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_forwardDo you have sample executive summary for internal audit report? (Can be a template if you have one.)arrow_forward
- How does Real Time Processing affect an audit?arrow_forwardFor which of the following tests would an auditor most likely use attribute sampling?(1) Selecting accounts receivable for confirmation of account balances.(2) Inspecting employee time cards for proper approval by supervisors.(3) Making an independent estimate of the amount of a LIFO inventory.(4) Examining invoices in support of the valuation of fixed asset additions.arrow_forwardWhat types of audit procedures are typically performed in testing operating effectiveness of controls over the revenue and collection cycle?arrow_forward
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