Combine
and discuss the following issues into a single coherent memo:
1) Audit risk is a key
consideration and guide to planning an audit – explain why?
2) List the key components of the
Audit Risk Model (ARM) and discuss how they interact?
3) How can well-structured or
judicious statistical sampling assist with estimating the components of the Audit Risk Model and/or resolve an
unsatisfactory outcome of that model? and
4) Discuss the differences
between random sampling, haphazard sampling, and judgement sampling and how
those differences might affect the discussion in part 3 (above).
Task Ranking Task |
Very poor under- standing of task. (0-20 |
Poorunderstanding of task. Some value (20-40 |
Acceptableunder-standing of task. (40-60 |
Good understanding of task. Good value (60-80 |
Excellent understanding of task. (80-100 |
||
1) |
Headings (5.0) |
Missing 0.0-1.0 |
Missing 1.0-2.0 |
All 2.0-3.0 |
All 3.0-4.0 |
All headings To: From: Date: Re: 4.0-5.0 |
|
2) |
Context (15.0) |
Little 0.0-3.0 |
A 3.0-6.0 |
A 6.0-9.0 |
A 9.0-12.0 |
A 12.0-15.0 |
|
2) |
Action (25.0) |
Generally 0.0-5.0 |
A 5.0-10.0 |
An 10.0-15.0 |
A 15.0-20.0 |
An 15.0-25.0 |
|
4) |
Rest (25.0) |
Generally 0.0-5.0 |
Confused 5.0-10.0 |
Acceptable 10.0-15.0 |
Good 15.0-20.0 |
Excellent 15.0-25.0 |
|
Total Mark |
/70 |
||||||
Adj. to 7.0 |
/7.0 |
Student |
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General Comments: