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:

Service Methods

Techniques and procedures used to deliver customer service and support, aimed at enhancing customer satisfaction and loyalty.

Control Procedures

Systematic measures implemented to regulate processes and ensure the accuracy and integrity of financial and operational activities.

Limited Liability Partnership

A type of business partnership where some or all partners have limited liabilities, meaning they are not personally responsible for the debts of the business.

Professional Partnership

A business structure where two or more professionals collaborate, sharing responsibilities, profits, and risks, typically in fields requiring a high level of training or expertise.