The following Accounts Receivable—Confirmation Statistics working paper (indexed B-3) was prepared by an audit assistant during the calendar year 20X1 audit of Lewis County Water Co., Inc., a continuing audit client. The engagement supervisor is reviewing the working papers.
Now assume that another deficiency in the working paper is that the difference found in the sample has not been projected to the overall population. Mean per unit, ratio estimation and difference estimation are three methods that might be used to project results. Assume that after all other deficiencies in the above working paper are corrected, $12,000 is the proper amount of misstatement in the previous confirmation statistics. Calculate the projected misstatement using each of these three methods.
Difference Estimation
Mean per unit
1 comments:
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