Dominic, your staff auditor, tested internal controls over cash by observing the accounting clerk prepare...
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Accounting
Dominic, your staff auditor, tested internal controls over cash by observing the accounting clerk prepare bank account reconciliations for the months of March an April. So, he concluded that internal controls over cash were effective. In May, the accounting clerk was replaced. The new accounting clerk did not perform any bank account reconciliations for the rest of the year. In this case, Dominic's conclusion reflects... The risk of incorrect rejection The risk of incorrect acceptance The risk of assessing control risk too low The risk of assessing control risk too high Statistical sampling has advantages over nonstatistical sampling. These advantages include all the following except... Statistical sampling allows the auditor to manage sampling risk. Statistical sampling allows the auditor to remove professional judgment from the sampling process. Statistical sampling allows the auditor to measure the sufficiency of evidence. Statistical sampling allows the auditor to quantify sampling risk
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