Answer the following questions 1- This chapter presents several examples of tests of controls over sales. Which of these controls do you feel are most important in detecting fraud? Which kind of fraud? How can a small business implement some of these c

Answer the following questions

1-     1- This chapter presents several examples of tests of controls over sales.  Which of these controls do you feel are most important in detecting fraud?  Which kind of fraud?  How can a small business implement some of these controls?  Which ones can still be implemented?

2-      2- Which analytical procedures do you think the audit can use in the sales and collection cycle?  What can these procedures that you suggest be used for?

3-      3- The chapter discusses statistical and nonstatistical sampling.  The remainder of the chapter deals with statistical sampling.  Explain the concept of nonstatistical sampling.  Are there any benefits to nonstatistical sampling?  Why don't auditors use it frequently?

4-      4- The book discusses several acceptable methods of sample selection.  As an auditor, which of these methods do you prefer to use?  Why?  What are the pros and cons of using your method?