Projected misstatements

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August 3, 2018 at 5:37 am #465919
sambathkun
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Dear Tutor,

Could you explain what is Projected misstatements?

Best Regards,
August 6, 2018 at 7:28 am #466366
Kim Smith
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See page 43 of the lecture notes – it means an extrapolation.
E.g. if you found $8,000 overstatement in a sample of $100,000 receivables balances and the total receivable balances were $400,000, the projected misstatement might be $32,000 ($8k ÷ $100k x $400k).
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