Question
How is the MUS sampling interval determined?
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Answer
Tolerable misstatement divided by RF(0).
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Question
What reliability factor is used for zero deviations or misstatements at 5% risk?
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Answer
3.00.
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Question
What makes audit data reliable when the auditor uses data analytics?
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Answer
Source, controls over preparation, completeness, and accuracy.
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Question
Why can a recorded estimate be misstated even if it is inside a broad range?
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Answer
The relevant comparison is to the auditor's reasonable range.
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