Questions from Auditing and Assurance

Q: Following is a set of situations that may or may not involve

Following is a set of situations that may or may not involve sampling. 1. An auditor is examining loan receivables at a local bank. The population of loans contains two strata. One stratum is composed...

Q: Jenny Jacobs, CPA, is planning to use attribute sampling in

Jenny Jacobs, CPA, is planning to use attribute sampling in order to determine the degree of reliance to be placed on an entity’s system of internal control over sales. Jacobs has begun to develop an...

Q: Determine the sample size for each of the control procedures shown in

Determine the sample size for each of the control procedures shown in the following table (assuming a very large population):

Q: Using the sample sizes determined in Problem 8-25 and the

Using the sample sizes determined in Problem 8-25 and the number of deviations shown here, determine the sample deviation rate, the computed upper deviation rate, and the auditor’s c...

Q: Determine the sample size for each of the control procedures shown in

Determine the sample size for each of the control procedures shown in the following table (assuming a very large population):

Q: Using the sample sizes determined in Problem 8-27 and the

Using the sample sizes determined in Problem 8-27 and the number of deviations shown here, determine the sample deviation rate, computed upper deviation rate, and the auditor’s concl...

Q: Calgari Clothing Company manufactures high-quality silk ties that are marketed

Calgari Clothing Company manufactures high-quality silk ties that are marketed under a number of trademarked names. Joe & Vandervelte LLP has been the company’s auditors for five...

Q: Nathan Matthews conducted a test of controls where the tolerable deviation rate

Nathan Matthews conducted a test of controls where the tolerable deviation rate was set at 6 percent and the expected population deviation rate was 3 percent. Using a sample size of 150, Matthews perf...

Q: List the various types of auditors and describe their respective roles in

List the various types of auditors and describe their respective roles in a sentence or two each.

Q: Doug Iceberge, senior-in-charge of the audit of

Doug Iceberge, senior-in-charge of the audit of Fisher Industries, has decided to test the following two controls for Fisher’s revenue process. 1. All sales invoices are supported by...