What should auditor conclude about controls effectiveness

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Reference no: EM133972530

Problem

An auditor selects a sample of 50 transactions to test the effectiveness of a control. The auditor determines that the tolerable deviation rate for this control is 3%. During testing, 2 deviations were identified in the sample. Upon further investigation, the auditor determines that one deviation was caused due to an isolated anomaly caused by temporary system error. Get the instant assignment help. The system was fixed on the same day. No further issues were reported. Based on this information, what should the auditor conclude about the control's effectiveness?

Reference no: EM133972530

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