When monetary- unit sampling has been concluded and the population is not considered acceptable, which one of the following courses of action would NOT be appropriate for the auditor?
A) Increase the sample size to see if this may satisfy the auditor's tolerable misstatement requirements.
B) Request the client to correct the population.
C) Refuse to give an unqualified opinion.
D) Increase the tolerable misstatement amounts so that the error bounds are acceptable.

Question

Quizplus · Accepted Answer

Increasing the tolerable misstatement amounts goes against the auditor's goal of obtaining sufficient and appropriate evidence and ensuring the accuracy of the financial statements. The appropriate courses of action would be to either increase the sample size, request the client to correct the population, or refuse to give an unqualified opinion.

When Monetary- Unit Sampling Has Been Concluded and the Population