The auditor ia auditing accounts receivable for a long-time client that has good internal controls. The auditor has assessed control risk as low and…

The auditor ia auditing accounts receivable for a long-time client that has good internal controls. The auditor has assessed control risk as low and assigns a control risk assessment of 20 % and a desired audit risk of 5 %. Other factors considered by the auditor:1. The auditor will not be performing any other substantive audit procedures.2. Inherent risk, by firm policy, is assessed at 1.00.3. Client book value is $9,325,000.4. Tolerable misstatement is assessed at $215,000.5. Previous audits have shown an expected error of $45,000 over-statement is reasonable.REQUIRED:a- Calculate the detection riskb- Calculate (and show the calculation) of the sample selection interval.c- Assume the auditor rounds the sampling interval down to the next nearest $5,000. Calculate the approximate largest sample size the auditor would expect.d- The auditor found the following differences when performing the audit work:AUDIT DIFF-17,500 was billed towrong Co. for errorin transcription.- Merchandise wasreturned before year end, but creditwas not recorded until next period.Incurred 60000-Dispute on product qualitydisputed for 6 months butcustomer satisfied.-Credit was supposed to beissued, but was not.REQUIRED:a- Calculate the most likely error and the upper error limit for accounts receivable

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more