ed) 8-25 Determine the sample size for each of the control procedures shown in the following table (assuming a very large population): LO 8-6 Control Procedure Parameters 1 4 Risk of incorrect acceptance 5% 5% 10% 10% Tolerable deviation rate 4% 5% 7% 8% Expected population deviation rate 1% 2% 3% 4% Sample size LO 8-6 8-26 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 conclusion (i.e., testing results do or do not support operating effectiveness of the control) for each control procedure. Control Procedure 1 4 Results 4 3 Number of deviations Sample size Sample deviation rate Computed upper deviation rate Auditor's conclusion 5.

ed) 8-25 Determine the sample size for each of the control procedures shown in the following table (assuming a very large population): LO 8-6 Control Procedure Parameters 1 4 Risk of incorrect acceptance 5% 5% 10% 10% Tolerable deviation rate 4% 5% 7% 8% Expected population deviation rate 1% 2% 3% 4% Sample size LO 8-6 8-26 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 conclusion (i.e., testing results do or do not support operating effectiveness of the control) for each control procedure. Control Procedure 1 4 Results 4 3 Number of deviations Sample size Sample deviation rate Computed upper deviation rate Auditor's conclusion 5.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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