Module 04 Content
Based on the Audit Plan created last week, make a plan for sampling and testing controls.
This can be done in a table format in your Excel workbook of audit papers. Include the account or process (i.e., Accounts Receivable or Cash Handling), objective, method, exception criteria, population, sampling unit, and tolerable exception rate. For Sampling units where exact numbers are unknown (such as the total number of customer accounts within Accounts Receivable), use an appropriate portion of unknown 1 out of 1,000.
In your spreadsheet, be sure to include your reasons for the criteria you chose.
Submit the Sampling and Testing Plan of Controls for grading purposes. The Sampling and Testing Plan of Controls should be part of your Excel working papers so you can turn in the entire workbook. Please be sure the tabs in the workbook are labeled appropriately.
Submit your completed assignment to the dropbox below. Would you please check the Course Calendar for specific due dates? Would you mind checking
Save your assignment as a Microsoft Excel spreadsheet. (Mac users, please remember to append the .xlsx extension to the filename.) The file’s name should be your first initial and last name, followed by an underscore and the name of the assignment, and an underscore and the date. An example is shown below:
Module 04 Course Project – Sampling and Testing
- Sampling and testing plan based on the Audit Plan created in the previous week. – 10
- Presented in a table format, including the account or process (i.e., Accounts Receivable or Cash Handling), objective, method, exception criteria, population, sampling unit, and tolerable exception rate. For Sampling units where exact numbers are unknown, such as the total number of customer accounts within Accounts Receivable, an appropriate portion of 1 out of 1,000 is used. – 25
- Includes reasons for criteria chosen. – 25
- Presented as part of previously completed Excel workbook with appropriate tab titles, charts, graphs, etc. Presented professionally according to the requirements of the industry – 20
Total – 80