# ACC 491 Week 5 Team Study Guide Audit Sampling Case Memo -

Satisfactory Essays
1520 Words
Grammar
Plagiarism
Writing
Score
ACC 491 Week 5 Team Study Guide Audit Sampling Case Memo -
ACC 491 Week 5 Team Study Guide Audit Sampling Case Memo - www.paperscholar.com DIRECT LINK TO THIS STUDY GUIDE: http://www.paperscholar.com/acc-491-week-5-team-assignment-audit-sampling-case-memo-7/

100% Satisfaction Guarantee
DESCRIPTION FOR THIS STUDY GUIDE:
TUTORIAL: This tutorial includes 12 pages, 1,965 words, and three references in correct APA format. A+++ WORK!
Resources: Ch. 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting
Prepare a 1,400- to 1,750-word memo to the Audit Partner, John Smith, summarizing your findings from the following case found in Ch. 13 of Modern Auditing: Comprehensive Question13-27 Key West Company’s —PPS Sampling Problem Audit Findings for Key West Company
13-27(PPS sampling) You decide to use statistical sampling to test the reasonableness of the recorded book value of the Key West Company’s accounts receivable Because the company’s internal control procedures over accounts receivable have been evaluated by you as excellent and you believe few misstatements will be found,you decide to use probability-proportional-to-size sampling. The company has 4,000 customer accounts with a total book value of \$3,000,000. You decide \$150,000 is the maximum tolerable misstatement and anticipate that there may be \$30,000 of misstatement in the population.You wish to limit the risk of incorrect acceptance to 10%. It is your intention to seek positive confirmation of accounts included in your sample and to apply alternative procedures to accounts for which no reply is received.
Required
Compute the sample size.
Compute the sampling interval.
Assume the following misstatements were found in the sample:
Sample Item Book Value Audit Value
1
\$800
\$0
2
1,500
1,350
3
13,000
0
4
15,000
14,250
Calculate
Projected misstatement.
Allowance for sampling risk.
Upper misstatement limit.
State your conclusion based on the results in (c).

## You May Also Find These Documents Helpful

• Good Essays

Answer the following questions in your own words. Each response must be written as anacademic paragraph of at least 150 words. Be clear and concise, and provide explanations for your answers. Format your sources consistent with APA guidelines.1.According to…

• 775 Words
• 4 Pages
Good Essays
• Satisfactory Essays

Resources: Ch. 11 & 13 of Modern Auditing: Assurance Services and the Integrity of Financial Reporting…

• 6750 Words
• 23 Pages
Satisfactory Essays
• Satisfactory Essays

This archive file of ACC 497 Week 4 Learning Team Assignments from the Readings shows the solutions to the following problems: I: 15-62 Case Study Problem…

• 411 Words
• 2 Pages
Satisfactory Essays
• Satisfactory Essays

Write responses to Problem P5-3 in Ch. 5 and Concepts for Analysis CA24-2 in Ch. 24 of Intermediate Accounting.…

• 374 Words
• 3 Pages
Satisfactory Essays
• Powerful Essays

This assignment contains 4 sections and APA formatting, which is worth 150 points. Incorrect spelling and not placing the hyphen or slash mark properly will result in deductions from the total score.…

• 1016 Words
• 8 Pages
Powerful Essays
• Satisfactory Essays

The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.…

• 255 Words
• 3 Pages
Satisfactory Essays
• Powerful Essays

The ongoing survey readiness audits that are conducted in the hospital on a daily basis have identified areas we will focus on to ensure that our accreditation survey results are exceptional. Audits are performed on an ongoing basis with a focus on trends that are most commonly cited by the Joint Commission. Nightingale hospital has proven to have made great improvements over prior survey findings in Emergency Management, Human Resources, Leadership, Medical Staff, Nursing Care, Provision of Care, Treatment and Services, Information Management, Handoff Communication and critical value reporting. We have placed an abundance of resources and efforts into improvement in these categories and will continue to make strides to further improve every aspect of the care we provide to our patients. (The Joint Commission, 2013)…

• 988 Words
• 4 Pages
Powerful Essays
• Satisfactory Essays

The paper—including the title page, reference page, tables, and any appendices—is consistent with APA guidelines as directed by the facilitator. The paper is laid out with effective use of headings, font styles, and white space.…

• 298 Words
• 3 Pages
Satisfactory Essays
• Good Essays

This assignment contains 4 sections and APA formatting, which is worth 150 points. Incorrect spelling and not placing the hyphen or slash mark properly will result in deductions from the total score.…

• 1066 Words
• 8 Pages
Good Essays
• Better Essays

The Joint Commission defines the Periodic Performance Review as an assessment tool created to assist health organizations improve and monitor their performance throughout the year. This tool focuses on the processes that influence patient care and safety while providing the structure for unremitting standards fulfillment. Nightingale Community Hospital is compliant with most standards as set forth by the Joint Commission. However, upon inspection and in an effort to stay focused on compliance, our standards committee has located a few discrepancies that must be resolved to maintain our accreditation with the Joint Commission.…

• 2223 Words
• 7 Pages
Better Essays
• Powerful Essays

Support your paper with at least five scholarly references. Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.…

• 1200 Words
• 4 Pages
Powerful Essays
• Satisfactory Essays

This assignment is to be completed adhering strictly to current APA format. Points will be lost for poor citation use and poor use of empirical knowledge to support the author’s thoughts (you will not have an “A” paper without proper APA format, and without proper citations you will not have a “B” paper.).…

• 436 Words
• 2 Pages
Satisfactory Essays
• Better Essays

Nightingale Community Hospital (NCH); a 180-bed, acute care, not for profit organization provides services in critical and emergency care, Oncology, cardiology, general medical and surgical services and neuroscience, vascular, level II nursery units amongst a few others. Providing these services Nightingale has held a commitment of safety, community, teamwork, and accountability. These four values have kept Nightingale compliant in several accreditation functions required by the Joint Commission.…

• 2360 Words
• 10 Pages
Better Essays
• Good Essays

An audit by the IRS was done on Mr. John Gemstone, a wealthy client. A few deductions were questioned, such as; \$10,000 loss on beach rental, \$20,000 charitable contribution, \$15,000 loss for operation of cattle breeding ranch. There was a concern that the battle breeding ranch is not a legitimate business, which is more like a hobby. My supervisor was asked that I represent Mr. Gemstone in his discussions with the IRS.…

• 507 Words
• 3 Pages
Good Essays
• Good Essays

Answer the following questions in your own words. Each response must be written as an academic paragraph of at least 150 words. Be clear and concise and provide explanations for your answers. Format your sources consistent with APA guidelines.…

• 2221 Words
• 10 Pages
Good Essays