Question:
Use DUS for audit of a/c rec.
• TE= $50000
• Beta risk = 5%
• Dollar unit sample=50
• Expected misstatements rate for zero errors = 100%
• BV = $473000
• Number of open a/c balances = 760
Required: (Show all calculations)
a) Calculate upper & lower error limits.
b) Is BV materially misstated?
| Recorded Value |
Audited Value |
| 1530 |
1683 |
| 3390 |
2712 |
| 220 |
352 |
| 280 |
490 |
| 2350 |
1175 |
| 200 |
80 |