CPA Audit Review Module 7-2

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Joens1313
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292713
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CPA Audit Review Module 7-2
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2015-01-08 23:38:37
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CPA Audit Review Module
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CPA Audit Review Module 7-2
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  1. Risk of assessing control risk too high relates to audit___________________
    Risk of assessing control risk too high relates to audit efficiency.
  2. What risk relates to audit efficiency
    Risk of assessing control risk too high
  3. Risk of assessing control risk too low relates to audit ____________________
    Risk of assessing control risk too low relates to audit effectiveness
  4. What risk relates to audit effectiveness
    Risk of assessing control risk too low.
  5. What are the two types of sampling risk
    The risk of assessing control risk too high and risk of assessing control risk too low.
  6. Risk of assessing control risk too high and risk of assessing control risk too low are what kind of risk
    sampling risk
  7. Attributes sampling is generally used when there is a trail of __________________________
    documentary evidence
  8. Documentary evidence involves what kind of sampling
    Attributes sampling
  9. ___________________sampling is not used for statistical sampling because it does not allow the auditor to measure the probability of selecting a given combination of sampling units.
    Haphazard sampling is not used for statistical sampling because it does not allow the auditor to measure the probability of selecting a given combination of sampling units.
  10. What is haphazard sampling not used for
    Haphazard sampling is not used for statistical sampling because it does not allow the auditor to measure the probability of selecting a given combination of sampling units.
  11. For the ________________________________ there is an inverse relationship between the risk of assessing control risk too low and sample size.
    For the Allowable risk of assessing control risk too low there is an inverse relationship between the risk of assessing control risk too low and sample size.
  12. What kind of relationship does the risk of assessing control risk to low and sample size.
    Inverse relationship.
  13. _________________ is the maximum rate of deviation from a prescribed control structure policy or procedure that an auditor is willing to accept without modifying the planned assessed level of control risk.
    Tolerable rate
  14. What is the tolerable rate
    The tolerable rate is the maximum rate of deviation from a prescribed control structure policy or procedure that an auditor is willing to accept without modifying the planned assessed level of control risk.
  15. What is another name for tolerable rate
    tolerable deviation rate
  16. The tolerable rate is the ________________ of deviation from a prescribed control structure policy or procedure that an auditor is willing to accept without modifying the planned assessed level of control risk
    maximum rate
  17. What is the maximum rate of deviation
    The tolerable rate is the maximum rate of deviation from a prescribed control structure policy or procedure that an auditor is willing to accept without modifying the planned assessed level of control risk
  18. The ____________________________ is an estimate of the deviation rate in the entire population
    The Expected population deviation rate is an estimate of the deviation rate in the entire population
  19. What is the expected population deviation rate
    The Expected population deviation rate is an estimate of the deviation rate in the entire population
  20. What is another name for expected population deviation rate
    expected rate of occurrence
  21. If the expected population deviation rate exceeds the tolerable rate, ______ will not be performed.
    test of controls and attributes sampling
  22. If the __________________________ exceeds the tolerable rate, test of controls and attributes sampling, will not be performed.
    expected population deviation rate
  23. If the expected population deviation rate exceeds the ____________, test of controls and attributes sampling, will not be performed
    tolerable rate
  24. There is a direct relationship, as one increases, the other also increases, between the ______________________rate and sample size.
    There is a direct relationship, as one increases, the other also increases, between the expected deviation rate and sample size.
  25. There is a direct relationship, as one increases, the other also increases, between the expected deviation rate and __________________.
    There is a direct relationship, as one increases, the other also increases, between the expected deviation rate and sample size.

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