The tolerable failure rate is the level at which the control's failure to operate would cause the auditor to conclude that the control is not effective and would likely change the auditor's planned assessment of control risk in performing tests of account balances.
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Q2: The sample size decreases as the risk
Q3: The individual auditable elements defined by the
Q4: Audit sampling is the application of an
Q5: Statistical sampling is used when an auditor
Q6: The risk of incorrect acceptance of an
Q8: The auditor must define the population to
Q9: The tolerable misstatement is the level of
Q10: For tests of controls,the most commonly used
Q11: When testing controls,the use of haphazard selection
Q12: An attribute is defined as a characteristic
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