Oceanview Marine Company 12-6

Statistical Attributes Sampling Data Sheet:

Sales
December 31, 2018

Define the objective: Evaluation of internal controls and the accounting system for sales.

Define the population precisely: Sales transactions that occurred between Jan. 1, 2018 and Dec. 31, 2018, inclusive.

Define the sampling unit, organization of population items, and random selection procedures:
Sales transactions as identified by sales invoice number, recorded sequentially in the sales journal. Computer-generated random sample.
Computer-generated random sample.

Planning Actual Results

Sample Sample Number of
EPER TER ARO CUER
Description of Attributes Size Size Exceptions

1. Proper approval of customer credit

1.50 8 10 48 50 2
information. (E)

2. Goods have been shipped to

0.00 5 10 45 50 0
customer. (E)

3. Amount recorded in journal agrees

0.00 7 10 32 50 0
with invoice total. (A)

4. Footings and extensions on the sales

0.50 8 10 48 50 0
invoice are correct. (A)

5. Price(s) per unit on invoice agree

1.00 8 10 48 50 0
with approved price list. (A)
6. Quantity(ies) on sales invoice agree
with quantity(ies) on bill of lading and 1.50 8 10 48 50 0
customer order. (A)
7. Proper accounts were debited and
2.00 8 10 48 50 1
credited. (Cl)

8. Sales transaction recorded promptly

1.50 9 10 42 50 1
after shipment. (T)

Audit Objective for Tests of Controls and Substantive Tests of Transactions:

Accuracy Existence Classification Posting & summarization Completeness Timing
 Oceanview Marine Company 14-4
Audit Program (performance format)
Tests of Controsl and Substantive Tests of Transactions:
Acquisitions (continued)
December 31, 2018

1. CONCLUSIONS

2. EFFECT OF RESULTS ON AUDIT PLAN

2. RECOMMENDATIONS TO MANAGEMENT
 Oceanview Marine Company 14-7
Nonstatistical Attributes Sampling Data Sheet:
Acquisitions
December 31, 2018

Define the objective: Evaluation of internal controls and the accounting system for acquisitions.

Define the population precisely: Purchase transactions that occurred between Jan. 1, 2018 and Dec. 31, 2018, inclusive.

Define the sampling unit, organization of population items, and random selection procedures:
Purchase transactions as identified by voucher numbers recorded sequentially in voucher register.
Computer-generated random sample.

Planning Actual Results

Initial Sample Estimated
Sample Number of
EPER TER ARO sample Exception Sampling CUER
Size Exceptions
Description of Attributes Size Rate Risk
1. Document package includes all
documents appropriate for the 1% 7% 10% 55 0 #DIV/0! 4.0% #DIV/0!
transaction. (E)
2. Proper approval of purchase order.
2% 8% 10% 0 #DIV/0! 4.0% #DIV/0!
(E)

3. Goods have been received. (E) 1% 7% 10% 0 #DIV/0! 4.0% #DIV/0!

4. Amount in voucher register agrees

1% 7% 10% 0 #DIV/0! 4.0% #DIV/0!
with amount on vendor’s invoice. (A)

5. Quantities on vendor’s invoice agree

with related receiving report and P.O.,
1% 8% 10% 0 #DIV/0! 4.0% #DIV/0!
and invoice is mathematically correct.
(A)

6. All documents in voucher package

1% 8% 10% 0 #DIV/0! 4.0% #DIV/0!
have been stamped “paid”. (E)

7. Proper accounts were debited and

1% 8% 10% 0 #DIV/0! 4.0% #DIV/0!
credited. (Cl)

8. Acquisitions recorded promptly after

2% 8% 10% 0 #DIV/0! 4.0% #DIV/0!
receipt of goods. (T)

Audit Objective for Tests of Controls and Substantive Tests of Transactions:

Accuracy Existence Classification Posting & summarization Completeness Timing
 Oceanview Marine Company 14-8
Attributes Sampling Exception Form:
Acquisitions
December 31, 2018

This form is to be used to document the findings of tests of controls and substantive tests of transactions. In the
column on the left, write the document number for each document tested. The numbers across the top of the matrix
correspond to the “Description of Attributes” column on the Attributes Sampling Data Sheet.

For each document in column one, place an “X” in the column below the number of the attribute being tested by that
document if there is an exception. Also use an “X” if one or more documents required to perform the test are missing
(assuming the missing document(s) are applicable to the transaction). Leave it blank if there is no exception.

RECORD OF EXCEPTIONS

Identity of Item Selected Attributes

Document number 1 2 3 4 5 6 7 8

Voucher 677

1010

1409

2280

3028

50 additional items 0 0 0 0 0 0 0 0

Total number of exceptions

Total sample size