Is the population acceptable as stated? If not, what options are available to the auditor at this point? Which option should the auditor select? Explain.
In the audit of Price Seed Company for the year ended September 30, the auditor set a tolerable misstatement of $50,000 at an ARIA of 10 percent. A PPS sample of 100 was selected from an accounts receivable population that had a recorded balance of $1,975,000. The following table shows the differences uncovered in the […]