[professionalskeptic]

Can someone explain this answer?

An auditor is selecting vouchers for testing an entity’s internal control activities related to the proper approval of vouchers before checks are prepared. The auditor is matching random numbers with voucher numbers to determine which vouchers to inspect. If a random number matches a voided voucher, that voucher ordinarily would be replaced by another voucher in the random sample if the voided voucher:

Answer: Has been properly voided.

If its supposed to be a random sample, why would you replace any of the vouchers? Wouldn’t you include all the ones randomly selected?

AUD - 95
BEC - 79
FAR - 86
REG - NINJA in Training

The woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep, miles to go before I sleep.

FAR - 11/18/15 - 74, 04/29 - 70 overworked myself to the last day and was burnt out at the exam.
AUD - 01/18/16 - 74 AGAIN FML, retake - only going to schedule when I feel happy with my prep.

[monikernc]

the vouchers selected randomly still need to work for the test you are going to perform. a properly voided voucher would not allow you to test for proper approval of voucher issuance. you still need, say 30, for your sample size, so you randomly select another to take the properly voided one's place. if you did not replace it your sample size would be reduced to 29. you can still use random selection to obtain a replacement for the voided voucher.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[professionalskeptic]

I think I'm messing up the meaning of a voided voucher. Wouldn't a voided voucher mean that the voucher was properly canceled by the treasurer when he/she signs the check? And it would still be testable for approval?

AUD - 95
BEC - 79
FAR - 86
REG - NINJA in Training

The woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep, miles to go before I sleep.

FAR - 11/18/15 - 74, 04/29 - 70 overworked myself to the last day and was burnt out at the exam.
AUD - 01/18/16 - 74 AGAIN FML, retake - only going to schedule when I feel happy with my prep.

[monikernc]

a voucher that was voided was not approved or paid. the auditor wants to randomly select vouchers that were paid to test for proper approval. he/she will randomly select from the population of vouchers until the desired number of paid vouchers have been selected for testing. voided vouchers do not meet the selection criteria for testing.

vouchers could also be tested for proper voiding but that is not this test.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[professionalskeptic]

That was to the point and very understandable. Thank you!
I can see why you have a 93 in the subject.

AUD - 95
BEC - 79
FAR - 86
REG - NINJA in Training

The woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep, miles to go before I sleep.

FAR - 11/18/15 - 74, 04/29 - 70 overworked myself to the last day and was burnt out at the exam.
AUD - 01/18/16 - 74 AGAIN FML, retake - only going to schedule when I feel happy with my prep.

[monikernc]

my 93 was ninja all the way – no kidding. i channeled that exam. don't remember much of actually taking it

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[professionalskeptic]

Good to know, just bought the MCQ earlier today. The explanations are far better than becker.

AUD - 95
BEC - 79
FAR - 86
REG - NINJA in Training

The woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep, miles to go before I sleep.

FAR - 11/18/15 - 74, 04/29 - 70 overworked myself to the last day and was burnt out at the exam.
AUD - 01/18/16 - 74 AGAIN FML, retake - only going to schedule when I feel happy with my prep.

[Author]

Replies