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  3. Study Set
    Auditing A Risk Based Approach
  4. Exam
    Exam 8: Specialized Audit Tools: Sampling and Generalized Audit Software
  5. Question
    Risks of Sampling in Tests of Controls
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Risks of Sampling in Tests of Controls

Question 28

Question 28

Essay

Risks of sampling in tests of controls.
Define the following terms as they relate to sampling for tests of controls:
1.tolerable failure rate
2.expected failure rate

Correct Answer:

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Tolerable failure rate is the level at w...

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