Questions from Auditing and Assurance


Q: Distinguish between Type I and Type II errors. What terms are

Distinguish between Type I and Type II errors. What terms are used to describe these errors when the auditor is conducting tests of controls and substantive tests? What costs are potentially incurred...

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Q: List audit evidence types that do not involve sampling and provide an

List audit evidence types that do not involve sampling and provide an example of a situation where an auditor would not use audit sampling.

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Q: Distinguish between non statistical and statistical sampling. What are the advantages

Distinguish between non statistical and statistical sampling. What are the advantages and disadvantages of using statistical sampling?

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Q: Which of the following controls would most likely be tested during an

Which of the following controls would most likely be tested during an interim period? a. Controls over non routine transactions. b. Controls over the period-end financial reporting process. c. Control...

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Q: Define attribute sampling. Why is this sampling technique appropriate for tests

Define attribute sampling. Why is this sampling technique appropriate for tests of controls?

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Q: How does the timing of controls testing affect the population definition?

How does the timing of controls testing affect the population definition?

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Q: List the four factors that enter into the sample size decision.

List the four factors that enter into the sample size decision. What is the relationship between sample size and each of these factors?

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Q: In performing certain audit procedures, the auditor may encounter voided documents

In performing certain audit procedures, the auditor may encounter voided documents, inapplicable documents, or missing documents, or the auditor may stop testing before examining all the items selecte...

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Q: List the steps in a statistical sampling application for substantive testing.

List the steps in a statistical sampling application for substantive testing.

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Q: What is the decision rule for determining the acceptability of sample results

What is the decision rule for determining the acceptability of sample results when classical variables sampling is used?

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