Questions from Auditing and Assurance

Q: The following are auditor judgments and attributes sampling results for six populations

The following are auditor judgments and attributes sampling results for six populations. Assume large population sizes. Required a. For each population, did the auditor select a smaller sample size th...

Q: The questions below relate to determining the CUER in audit sampling for

The questions below relate to determining the CUER in audit sampling for tests of controls, using the following table: Required a. Calculate SER for each of columns 1 through 4 and use this to calcu...

Q: Describe systematic sample selection and explain how an auditor will select 40

Describe systematic sample selection and explain how an auditor will select 40 numbers from a population of 2,800 items using this approach. What are the advantages and disadvantages of systematic sam...

Q: For the audit of the financial statements of Mercury Fifo Company,

For the audit of the financial statements of Mercury Fifo Company, Stella Mason, CPA, has decided to apply nonstatistical audit sampling in the tests of controls and substantive tests of transactions...

Q: The sampling data sheet below is missing selected information for six attributes

The sampling data sheet below is missing selected information for six attributes involving tests of transactions for the sales and collection cycle. a. Use Table 15-8and Table 15-9 to complete the mi...

Q: Compare the risks associated with network systems to those associated with centralized

Compare the risks associated with network systems to those associated with centralized IT functions.

Q: Define what is meant by an audit trail and explain how it

Define what is meant by an audit trail and explain how it can be affected by the client's integration of IT.

Q: Distinguish between random error resulting from manual processing and systematic error resulting

Distinguish between random error resulting from manual processing and systematic error resulting from IT processing and give an example of each category of error.

Q: The following questions address fraud risks in specific audit areas and accounts

The following questions address fraud risks in specific audit areas and accounts. a. Cash receipts from sales on account have been misappropriated. Which of the following acts will conceal this embezz...

Q: Identify the traditionally segregated duties in noncomplex IT systems and explain how

Identify the traditionally segregated duties in noncomplex IT systems and explain how increases in the complexity of the IT function affect that separation.