Auditing & Assurance Services (7th Edition)

Chapter 18

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Attribute sampling is an auditing tool used to ... more

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Management assertion is related to attribute ... more

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Deviation condition refers to the lack of ... more

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Defining the population is important in attribute ... more

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The types of risk are:Risk of under-relianceRisk ... more

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The concern toward risk of over-reliance is higher... more

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Sampling procedures:Desired risk of over ... more

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For applying the sampling procedure, the auditor ... more

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The test of control indicates the procedure of ... more

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When the audit team is not able to identify the ... more

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The sample rate of deviation rate can be described... more

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ULRD is the Upper Limit Rate of Deviation. It is ... more

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The ULRD is an adjusted sample rate, and the rate ... more

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According to the AICPA sample table, upper limit ... more

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Other options available for determining the ULRD ... more

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4.3%. ; Calculate the sample rate of deviation by ... more

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The audit team decides that the controls are ... more

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When the upper limit rate of deviation (ULRD) is ... more

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When the ULRD is greater than the tolerable rate ... more

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Information to be documented in an attributes ... more

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Sequential sampling refers to the sampling where a... more

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Discovery sampling refers to the sampling that is ... more

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The use of non-statistical sampling differs from ... more

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An audit team uses non-statistical sampling for ... more

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Determining the materiality is not a part of ... more

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Understanding the objective of sampling is ... more

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The relationship between the tolerable rate of ... more

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The audit team controls the risk of overreliance, ... more

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Not only the risk of overreliance but the risk of ... more

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The risk of overreliance occurs when the auditor ... more

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On the basis of AICPA sampling table, if the ... more

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Risk of overreliance increases with an increase in... more

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The upper limit rate of deviation (ULRD) of a ... more

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Upper limit rate of deviation is the estimated ... more

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All the variables necessary for the calculation of... more

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The audit team cannot consider 4% as control risk ... more

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Variable sampling is used to select customer ... more

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The audit team must use the sum of the sample rate... more

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3.3% is calculated by taking erroneous value from ... more

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2.2% is calculated using an erroneous formula. ; ... more

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The audit team is required to adjust and increase ... more

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The audit team is required to increase the ... more

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Expected population deviation rate is not used ... more

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Allowance for sampling risk is the margin over the... more

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Attribute sampling is a method of sampling used by... more

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Attribute sampling is a method of sampling used to... more

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Defining the characteristic of interest is common ... more

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There is not much difference in the sample size ... more

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To: Audit Manager From: Individual S Re: ... more

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Sample size is 66.Tolerable rate of deviation ... more

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(a) 6.67%(b) 19.60% For the computation of ULRD an... more

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The sample size does not depend upon sample ... more

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The following are the mistakes committed:The ... more

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The manager of Company D must discuss the ... more

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