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Statistical sampling – Advantagesa) It is scientific and defensible;
b) It provides a precise mathematical statement about probabilities of being correct;
c) It is efficient as over large samples are not taken;
d) It tends to cause uniform standards among different auditing firms;
e) It can be used by lower grade staff who due to lack of experience may be lacking the necessary judgement needed by the judgement sampling.
Advantages of Fixed Assets Register There are several advantages if the register properly maintained: a) There is an independent record of all fixed assets showing particul
WHAT ARE THE MAIN PURPOSE OF HAVING PUBLIC SECTOR AUDITING
The assignment continues the research process by further exploring and defining the problem statement through the development of research objectives. These objectives will allow yo
Internal Audit has been asked by the State to review the activities of The Commission on Workforce Development
For each of the following independent situations, state whether you agree or disagree, and briefly explain your answer. (a) Materiality is used only at the planning stage of the
Q. Explain about Wash Sale? Wash Sale - A wash sale takes place if stock or securities are sold at a LOSS and seller acquires substantially identical stock or SECURITIES 30 day
Selection of a Sample - Audit Process The following accounts must be involved in debtor's circularisation: 1) Large balances since they are large and the moreover you can sub
Q. Explain the Single Audit Act? Single Audit Act - Single Audit Act of 1984 and Single Audit Act Amendments of 1996 establish requirements for audits of states, non-profit org
Is an audit 100% guarantee?
Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth. Accounting does without a deal along w
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