15.AUD assignment 3docx - DESHUN MOSS CONDELL 000 00 6336...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
DE’SHUN MOSS CONDELL 000 00 6336 AUDITING II ASSIGNMENT FROM CHAPTER 15 15-8, 15-16, 15-17, 15-19, 15-20 15-8 TERM DEFINITION a. Acceptable risk of assessing control risk too low The risk the auditor is willing to take of accepting a control as effective or a rate of monetary misstatements as tolerable, when the true population exception rate is greater than the tolerable exception rate. b. Computed upper exception rate The highest estimated exception rate in the population at a given ARACR. c. Estimated population exception rate The exception rate the auditor expects to find in the population before testing begins. It is necessary to plan the appropriate sample size. d. Sample exception rate The actual rate of exception discovered in the sample. It is calculated by dividing the actual number of exceptions in the sample by the sample size. e. Tolerable exception rate The exception rate the auditor will permit in the population and still be willing to use the assessed control risk and/or the amount of monetary
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/02/2012 for the course ACCOUNTING Acc632 taught by Professor Marry during the Spring '10 term at College of the Bahamas.

Page1 / 2

15.AUD assignment 3docx - DESHUN MOSS CONDELL 000 00 6336...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online