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Unformatted text preview: ACCT470-V2WW February 12, 2012 Assignment 6-4 Audit Sampling Chapters 8 &amp; 9 CHAPTER 8: 8-24. Jenny Jacobs, CPA, is planning to use attribute sampling in order to determine the degrees of reliance to be placed on an audit clients system of internal control over sales. Jacobs has begun to develop an outline of the main steps in the sampling plan as follows: 1. State the test objectives (for example, to test the reliability of internal controls over sales). 2. Define the population (the period covered by the test, the sampling unit, the completeness of the population). 3. Define the sampling unit (for example, client copies of sales invoices). a. What are the remaining steps in the outline that Jacobs should include in the statistical test of invoices? 4. Select sample items. 5. Perform the auditing procedures (Understand and analyze any deviations observed). 6. Calculate the sample deviation rate and computed upper deviation rate....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 470 taught by Professor Kwong during the Spring '11 term at Franklin.
- Spring '11