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Chapter 6 In Class Questions.pdf

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University of Alberta
Trish Stringer

In Class #6.1 - Sample selection in practice Rahim, a first-year auditor, is asked to select a sample of invoices to audit the utility expense account. Below is the account detail. The audit program asks to select a sample of four items. Month Balance January 15,245 February 12,973 March 11,359 April 9,326 May 6,380 June 4,558 July 2,901 August 2,837 September 3,690 October 5,890 November 9,823 December 14,906 Required 1: Using a random number generator in Excel, determine which months will be selected. Required 2: Using systematic selection, determine which four months will be selected. Required 3: Using haphazard selection, determine which four months will be selected. Required 4: Using block selection, determine which four months will be selected. In Class #6.2 - Sampling methods and risk & Projecting Errors Fabrication Holdings Ltd. (FH) has been a client of KFP Partners for many years. You are an audit senior and have been assigned to the FH audit for the first time for the fiscal year ended December 31, 2012. You are completing the audit planning for the property, plant, and equipment (PPE) account class, which is one
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