accounting-Provide an intuitive description of MUS in your own words

QUESTION

.0/msohtmlclip1/01/clip_image002.jpg”>1.
Provide an intuitive description of MUS in
your own words. Specifically, include how it relates to attribute
sampling and yet provides evidence about monetary account balances.

2.
Why does the text emphasize that MUS is
biased towards overstatement errors and not understatement errors? Does
variables sampling (VS) contain this bias? Be sure to explain you answers
in your own words.

3.
Describe in your own
words the strengths and weaknesses of variable sampling (VS) versus MUS and the
conditions where the auditor might choose one over the other.
a) Strengths of MUS versus VS,
when MUS is more appropriate and why.
b) Strengths of VS versus MUS,
when VS is more appropriate and why.

ANSWER:

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