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October 5, 2023 at 6:32 pm
Hello sir. In the notes on pg 68, there is a calculation on extrapolating the sample error to the population. The following details are available: Total purchases are $800,000. Errors in the sample total $5,600. Investigation shows that $1,500 is an isolated error (anomaly) and $4,100 are due to overpricing. Therefore, sample error amounts to $4,100 which I understand. HOWEVER, WHY IS THE $1,500 DEDUCTED ONLY FROM THE VALUE OF TOTAL PURCHASES SUBSEQUENTLY AND NOT THE VALUE OF THE SAMPLE WHEN CALCULATING THE POPULATION ERROR? Thanks in advance and sorry if it’s not the correct platform to ask this question.
November 19, 2023 at 1:39 pm
I have the same problem, can someone advise on yadmuthoora’s question? Thank you
Kim Smith says
November 22, 2023 at 11:34 am
Please ask in the tutor forum https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-audit-and-assurance-aa-exams – the space here is for “comment” rather than query.
August 6, 2018 at 9:35 am
Thanks for the Lecture.
Monetary unit selection, can I say that this statical method is almost based on materiality?
August 6, 2018 at 12:14 pm
What do you mean by “almost based on materiality”?
February 5, 2022 at 7:01 am
Using Monetary sampling the auditor ends up testing the items that has a majority in the monetary unit, in the example in the lecture big customers. Those transactions are more material or important than comparatively small transactions. Maybe thats what he meant I also have that presumption in my mind .Is it wrong?
February 5, 2022 at 7:16 am
All audit procedures are based on materiality in some way – if a matter is not material, it is irrelevant to the financial statements.
Please use the ask the AA tutor forum if you wish to continue this discussion.
February 14, 2017 at 5:04 pm
It is mentioned in the lecture that Stratification is a form of statistical sampling.
However, the BPP notes very clearly state that Stratification is NOT sampling because the population has been divided into sub-populations.
Can this please be clarified as to which is correct?
Many thanks for your help in advance.
January 12, 2017 at 7:41 am
i didnot understand why $605 was choosen as first random selection ? plz give more specific explaination uppn selectiong amount 605 as first random dollaramount?
Ken Garrett says
January 12, 2017 at 9:21 am
June 2, 2015 at 8:22 pm
in the video you have spoken about sampling risk and over reliance , under reliance. now in the notes i downloaded this things are not there. does it mean this is not important?
April 29, 2015 at 8:23 am
thank you sir..
April 28, 2015 at 9:30 pm
By inspection, ensure that bank reconciliations have been regularly prepared.
Reperform the year-end reconciliation plus one other.
April 28, 2015 at 3:04 pm
afternoon ,can you please tell me the audit procedure of bank reconciliation please
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