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I'm working the integrated audit practice case involving Oceanview Marine Company, Dec 215 Assignment 5...

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Accounting

I'm working the integrated audit practice case involving Oceanview Marine Company, Dec 215 Assignment 5 discussion questions. The question reads.. For this assignment, the expected population exception rate (EPER) was specified as 1% or 2%, the tolerable exception rate (TER) was specified as 7% or 8, and the acceptable risk of overreliance (ARO) was specified as 10% for all attributes in the audit of acquisitions transactions. Indicate how each of these variable (EPER, TER, and ARO) should be determined. What is the effect on sample size of lowering each variable (EPER, TER, and ARO)? Can you help?

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