# MODF - Module F - Attribute Sampling MODULE F Attribute...

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Module F - Attribute Sampling MODULE F Attribute Sampling LEARNING OBJECTIVES Review Checkpoints Exercises, Problems, and Simulations 1. Identify the objectives of attribute sampling, define deviation conditions, and define the population for an attribute sampling application. 1, 2, 3, 4 51, 53, 54, 55, 71 (partial), 73 (parts a – b), 74 (parts a – b), 75 (part a), 76 (partial), 77 (partial), 79 2. Understand how various factors influence the size of an attribute sample. 5, 6, 7 52 (partial), 71 (partial), 72 (parts a – b), 75 (parts b – c), 76 (partial), 77 (partial), 78, 79 3. Determine the sample size for an attribute sampling application. 8, 9 52 (partial), 60, 61, 62, 63, 64, 71 (partial), 72 (part c), 74 (part c), 75 (parts d – e), 80 (partial) 4. Identify various methods of selecting an attribute sample. 10, 11, 12 56 (partial), 57, 58, 59, 71 (partial), 73 (parts c-d), 74 (part d) 5. Evaluate the results of an attribute sampling application by determining the upper limit deviation rate (ULDR). 13, 14, 15, 16, 17, 18, 19, 20, 21, 22 52 (partial), 56 (partial), 65, 66, 67, 68, 69, 70, 71 (partial), 72 (parts d – f), 73 (part d), 74 (parts e – g), 75 (parts f – h), 77 (parts g-h), 80 (partial) 6. Define sequential sampling and discovery sampling and identify when these types of sampling applications would be used. 23, 24 7. Understand how to apply nonstatistical sampling to attribute testing. 24, 25 74 MODF-1

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Module F - Attribute Sampling SOLUTIONS FOR REVIEW CHECKPOINTS F.1 Attribute sampling is a method of sampling used to determine the extent to which some characteristic (or attribute) exists within a population of interest. Attribute sampling is used by the auditor in performing tests of controls to determine the operating effectiveness of internal control policies and procedures. F.2 The auditor’s objective in attribute sampling is to determine the operating effectiveness of key controls that influence the financial statement assertions of interest. As a result, the financial statement assertions ultimately determine which control(s) are tested and are the subject of the auditor’s attribute sampling application. F.3 Deviation conditions represent situations in which key controls are not functioning as intended. Deviation conditions are important in an attribute sampling application because they provide the auditor with evidence regarding the operating effectiveness of the client’s internal control. F.4 An appropriate definition of the population is important because auditor conclusions can only be extended to the population from which the sample is selected. F.5 a. Sampling risk is the risk that the decision made by the auditor based on the sample is different from the decision that would have been made if the entire population were examined. b.
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## This note was uploaded on 01/21/2010 for the course ACC 492 ACC 492 taught by Professor Benmathews during the Spring '09 term at University of Phoenix.

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MODF - Module F - Attribute Sampling MODULE F Attribute...

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