Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN: 9781337619455
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: Cengage Learning
Question
Book Icon
Chapter 8, Problem 13RQSC
To determine

Introduction:Sample size is the basic unit of the audit to examine the sample risk, tolerance limit and sample error.

Requirement 1

To determine the effect on sample size of increasing of the sampling risk.

To determine

Introduction:Sample size is the basic unit for the audit. Tolerable limit is set by the auditor before auditing to control the risk.

Requirement 2

To determine the effect on sample size of increasing of tolerable rate of deviation.

To determine

Introduction:The basic unit of audit is sample size. The population deviation rate is the limit of the auditor to control the risk without altering the plan.

Requirement 3

To determine the effect on sample size of increasing of population deviation rate.

To determine

Introduction:Sample size is decided by the auditor to minimize the risk level.

Requirement 4

To determine the effect on sample size of increasing of population size.

Blurred answer
Students have asked these similar questions
What is the relationship between sample size and (a) sampling risk, (b) tolerable rate of deviation,and (c) expected population deviation rate
Which of the following best describes the method of determining the ULRD?a. Expected population deviation rate + Allowance for sampling risk.b. Risk of underreliance + Allowance for sampling risk.c. Sample rate of deviation + Allowance for sampling risk.d. Tolerable rate of deviation + Allowance for sampling risk.
How does Probability Proportionate to Size (PPS) sampling compare to Classic Variables sampling?

Chapter 8 Solutions

Auditing: A Risk Based-Approach (MindTap Course List)

Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Text book image
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub