What is the tolerable error, Financial Management

Assignment Help:

What is the Tolerable error

In addition to looking at material differences individually the auditor must list all the differences (material or not) and consider in total whether they are material (list of uncorrected differences) or not. Tolerable error (TE) is maximum error in the population that auditors are willing to accept and still determine that audit objective has been achieved.

 

2365_audit.png


Related Discussions:- What is the tolerable error

Management accounting, Management Accounting: Management accounting on ...

Management Accounting: Management accounting on the other hand tends to focus internally. Reports generated through management accounting processes will be used by the organisa

Compare and contrast mutual and stockholder-owned savings, Compare and cont...

Compare and contrast mutual and stockholder-owned savings and loan associations. Some loan and savings associations are owned by stockholders, just as commercial banks and oth

When comparing different projects than standard deviation, Why is the coeff...

Why is the coefficient of variation often a better risk measure when comparing different projects than the standard deviation? Whenever we wish to compare the risk of investmen

Walters model, A Ltd sells goods at Rs.10.P.U. Its variable cost Rs.7.P.U a...

A Ltd sells goods at Rs.10.P.U. Its variable cost Rs.7.P.U and fixed cost amount to Rs.1,70,000 it finances all its assets by equity funds. It pays 40% tax on its income. Z Ltd is

Explain safe harbour rule, Q. Explain Safe Harbour Rule? Safe Harbour R...

Q. Explain Safe Harbour Rule? Safe Harbour Rule - Concept in statutes and regulations whereby a person who meets listed requirements would be preserved from adverse legal actio

Explain the term stakeholders, Explain the term StakeHolders The range ...

Explain the term StakeHolders The range of stakeholders may comprise directors/managers, lenders, shareholders, employees suppliers and customers. These groups are probable to

Importance of wbs in the project communication process, Due to the complex...

Due to the complexity of the tasks involved in many projects, communication of responsibility for those tasks is often helped by means of graphical planning techniques.

Explain the term credit unions, Credit unions Credit unions are non-pro...

Credit unions Credit unions are non-profit institutions jointly organised and owned by their members (depositors). Their main objective is to satisfy the depository and lending

Concept of yield spreads, The Central Bank is an authority responsible for ...

The Central Bank is an authority responsible for monetary policy of its country. It regulates money supply and credit, issues currency, and manages exchange rate.

How to calculate annual yield for security?, Illustration  The mo...

Illustration  The monthly yield of a mortgage backed security is 0.75%. Find out the annual yield for this security. Solution Annual yield = 2 [(1 + 0

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd