When Monetary-Unit Sampling Has Been Concluded and the Population Is

question 39

Multiple Choice

When monetary-unit sampling has been concluded and the population is not considered acceptable, which one of the following courses of action would NOT be appropriate for the auditor?

• A) Refuse to give an unqualified opinion.
• B) Request the client to correct the population.
• C) Increase the sample size to see if this may satisfy the auditor's tolerable misstatement requirements.
• D) Increase the tolerable misstatement amounts so that the error bounds are acceptable.

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Definitions:

Historical Significance

The importance ascribed to an event, object, or person in history, based on their impact on subsequent events or developments.

Fordism

A system of mass production that combines manufacturing with technological innovations to produce large quantities of standardized products, famously pioneered by Henry Ford.

Historical Significance

The importance assigned to an event, person, or place based on its impact on history, its representative value, or its influence on present and future conditions.

John Dewey's Pragmatism

A philosophical doctrine that emphasizes the practical application of ideas by acting on them to actually test them in human experiences.