Using MUS sampling Describe MUS sampling and identify the conditions that would cause an auditor choose to use MUS sampling
MUS sampling is an adaptation of attribute sampling methods to dollar value testing. It was developed specifically for use in auditing. MUS sampling is most effective when testing for overstatements in situations when few misstatements are expected. Individual book values must be available for testing. The population for MUS sampling is defined as the number of dollars in the account balance being tested. Each dollar in the population has an equal chance of being chosen, but each dollar is associated with a particular item such as an inventory item.
You might also like to view...
Why is the counterproposal an effective ending to a bad-news message? Give an example of a situation in which a counterproposal might be appropriate
Which of the following statements is true of an activity-based costing system?
A) It uses separate predetermined overhead allocation rates for each activity. B) It is not as accurate or precise as traditional costing systems. C) It accumulates overhead costs by processing departments. D) It is not as complex or as costly as traditional systems.
Which of the following is not an example of the implementation of the marketing concept?
A. Jimmy Dean's Sausage introduces turkey sausage patties for a healthier alternative to pork. B. Ford asks customers to vote online for a new color for next year's Ford Focus. C. McDonald's reduces the labor costs to produce its sausage-egg biscuits. D. Linx offers rewards for users who can find flaws in its new software. E. Volkswagen introduces pop-up rollover bars in its convertibles to protect its consumers in the event of a serious collision.
Which of the following is most likely to be a tort based on negligence??
A) Assault B) Battery C) Commercial disparagement D)Automobile accidents