The maximum amount of error in a population that the auditor is willing to accept is referred to as the acceptable risk expected error tolerable error tolerable materiality
The maximum amount of error in a population that the auditor is willing to accept is referred to as the acceptable risk expected error tolerable error tolerable materiality
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
Section: Chapter Questions
Problem 32RQSC
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The maximum amount of error in a population that the auditor is willing to accept is referred to as the
- acceptable risk
- expected error
- tolerable error
- tolerable materiality
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