In Determining the Sample Size for a Test of Controls

question 37

Multiple Choice

In determining the sample size for a test of controls, an auditor should consider the expected deviation rate, desired confidence level, and the

• A) Tolerable deviation rate.
• B) Risk of incorrect acceptance.
• C) Nature and cause of deviations.
• D) Population size.

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Definitions:

Time Management

The process of organizing and planning how to divide your time between specific activities to increase effectiveness, efficiency, and productivity.

Prioritizing

The process of determining the most important tasks or goals and allocating time and resources accordingly.

Strategic Plans

Long-term goals and actions designed to achieve a company's vision and mission, enabling it to navigate towards future growth and success.

Action Directions

Strategic moves or steps taken towards the achievement of goals or objectives.