Describe the Tolerable Exception Rate
Not what you're looking for?
Describe the tolerable exception rate and how you might use this as an auditor. Explain how you might determine the rate you select.
Purchase this Solution
Solution Summary
The solution describes the tolerable exception rate and how you might use this as an auditor.
Solution Preview
See the attachment.
Tolerable Exception Rate (TER) and how it is used in Auditing
The tolerable exception rate in auditing is the maximum compliance exception rates that an auditor is willing to accept in any auditing tests. This rate is often related to the materiality of the auditing program. It represents the rate that an auditor will permit in the population sample and he/she still be willing to use the amount of monetary misstatements in the transactions and the ...
Purchase this Solution
Free BrainMass Quizzes
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Basics of corporate finance
These questions will test you on your knowledge of finance.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.