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Jennthejelly Jennthejelly
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Consider the steps in sampling for tests of details and for tests of controls. Explain the differences in applying sampling to these two types of tests.
Textbook 

Auditing and Assurance Services


Edition: 17th
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jordankites45jordankites45
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More questions for this book are available here
The differences are as follows:

Tests of Details
1. Define a misstatement.
2. Specify tolerable misstatement. 
3. Specify acceptable risk of incorrect acceptance. 
4. Estimate misstatements in the population. 
5. Analyze misstatements. 
Tests of Controls
1. Define attributes and exception conditions.
2. Specify tolerable exception rate.
3. Specify acceptable risk of overreliance.
4. Estimate population exception rate. 
5. Analyze exceptions.


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