Jerry tim is examining an important internal control in the


Question: Jerry Tim is examining an important internal control in the audit of Langly Company. In past audits, deviations from this control have been observed at a minimal rate (less than 0.1 percent); however, because the account balance affected by this control is highly susceptible to fraud, it is important that Tim obtain a high level of assurance that deviations occur at no higher than a predetermined (low) rate. Which of the following sampling methods would Tim most likely use to evaluate this control?

a. Attributes sampling.

b. Discovery sampling.

c. Sequential sampling.

d. Statistical sampling.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Jerry tim is examining an important internal control in the
Reference No:- TGS02421339

Now Priced at $15 (50% Discount)

Recommended (97%)

Rated (4.9/5)