6) Compare audited amount to recorded amount & project error

Recorded Audited Over- Tainting S n

Inv # amount amp mg Projected
amount statement factor interval error
#4 $860 $840 $20 2.3% $1,226 $28
#5 595 575 20 3.4% 1,226 42
#6 2,170 2,100 70 nla nla 70
#9 1,625 1,585 40 nla nla 40
Projected error based on first 10 invoices $180

7) Whten. slal mp~e is completed, if projected error s $6,000, auditor will conclude that sales is
not
ma ena y misstated

8)
Focus on
Audit Sampling - Module 5 250

Responsibilities in an Infor.mation
Technology Environment
Audit objectives are the same when financial records are manual or developed in an information
technology (IT) environment.
In an IT environment, the auditor should consider
Client use of computers in significant accounting applications
Complexity of the entity's computer operations
Organizational structure of computer processing activities
Availability of data
Use of computer assisted audit techniques (CAATS) for audit procedures

Focus on
Auditing with Technology - Module 6 251