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Audit Standards of Proper Documentation Discuss the Audit Standards That

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Essay

Audit standards of proper documentation Discuss the audit standards that must be applied to the auditor's documentation.Give five examples of the types of documentation found in the audit work papers.


Definitions:

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true; a measure of the risk of a Type I error.

SRS

Simple Random Sampling, a method of selecting a sample in which each member of the population has an equal chance of being included.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between certain states or parameters in a population.

Significance Level

A threshold in hypothesis testing that determines the probability of rejecting the null hypothesis when it is actually true.

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