Discuss the market and manufacturing requirements
1. Is PAC affected when changing from MRP to JIT? Explain.
2. Discuss the market and manufacturing requirements that make it appropriate to use MRP and Just-in-Time.
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Why do auditors find it necessary to use sampling? What are the risks associated with sampling? How might these risks affect the audit conclusion?
Explain the importance of defining the population when performing audit procedures? How would defining the population affect the sample size? How would incorrectly defining population affect sampling unit?
Describe how market economic system works to answer fundamental economic questions. Describe how this may vary from command economic system
Why do auditors have to consider the internal controls of the organization? What are some key elements of internal control? Which are the most important?
Describe the market and manufacturing requirements which make it suitable to use MRP and Just-in-Time.
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Explain the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?
Identify and discuss 3 examples of routine or transactional change during your work experience.
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