Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Jul 2017 My Price 12.00

company's internal controls

You have been assigned to test the company's internal controls over credit authorization.

You have determined that there are 20,000 sales invoices processed during the year.

The parameters given to you by the audit manager are: 95% confidence that no more than 5% of the sales invoices were not approved (deviations).

Based on last year's audit, it is estimated that approximately 1% of sales invoices deviate from the internal control being tested. You can accept a tolerable deviation rate of 5%.

After selecting your sample you discover 3 deviations.

 

Required:

Using the tables provided determine the sample size and evaluate your results given the 3 deviations uncovered. Please see attached doc for tables.ATTRIBUTE SAMPLING PROBLEM

 

You have been assigned to test the company's internal controls over credit authorization. 

You have determined that there are 20,000 sales invoices processed during the year. 

The parameters given to you by the audit manager are: 95% confidence that no more than 5% of the sales invoices were not approved (deviations). 

Based on last year's audit, it is estimated that approximately 1% of sales invoices deviate from the internal control being tested. You can accept a tolerable deviation rate of 5%. 

After selecting your sample you discover 3 deviations. 

 

Required:

Using the tables provided determine the sample size and evaluate your results given the 3 deviations uncovered.

 

 

 

 

 

 

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Jul 2017 08:07 PM My Price 12.00

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