Assume that you select a sample of 200 sample items for testing and you find one misstatement in inventory. The recorded value is $987.12 and the audit value is $887.12. Calculate the misstatement bounds for the three combined accounts and reach ap- propriate audit conclusions.
You intend to use MUS as a part of the audit of several accounts for Roynpower Manufacturing Company. You have done the audit for the past several years, and there has rarely been an adjusting entry of any kind. Your audit tests of all tests of controls and substantive tests of transactions cycles were completed […]