In a monetary-unit sample with a sampling interval of $5,000, an auditor discovers that a selected...
In a monetary-unit sample with a sampling interval of $5,000, an auditor discovers that a selected account receivable with a recorded amount of $10,000 has an audit amount of $8,000. If this were the only error discovered by the auditor, the projected misstatement for this sample would be
A. $5,000
B. $4,000
C. $2,000
D. $1,000
Homework Answers
The projected misstatement for this sample would be $2,000 ($10,000 - $8,000)
The difference between recorded amount and audit value.
Option C.
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