hard20 pts · first answer countsaudit-samplingmisstatements

Projected misstatement above tolerable

After testing a sample, the projected misstatement plus allowance for sampling risk is above tolerable misstatement for the population. What should the auditor do?

A.Conclude the population is fine because the actual errors found were smallB.Remove the errors from the sample and re-evaluateC.Issue a disclaimer of opinion immediatelyD.Conclude the population may be materially misstated: ask management to investigate and correct, and extend testing or perform other procedures

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Projected misstatement above tolerable

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