Question

error projection? it is examinable but where to find relevant text on that? how it is relevant to F8?

error projection? it is examinable but where to find relevant text on that? how it is relevant to F8?

Answer 1

Difference between the estimated figure and the actual figure. (Projection error)

This is a RISK faced by the Auditors. (eg Provisions)

Good Luck!!

Answer 2

is it relate to misstatement? projection misstatement?, i.e. the projection made by auditor compared with actual, if different, then it is called projection error?

Answer 3

Well I haven't seen any direct Questions on Error Projection in F8. So I would recommend you don't worry about it. The information I provided you is more then sufficient. I can further elaborate it but it might cause further confusion for you.

Personal opinion : Let it go.

But still if you want to know. Leave a comment and I will explain it to you.

Good Luck!!

Answer 4

Pls do elaborate it a little bit furtuer, thank you very much.
as i noticed, misstatement has three categories, one is projected misstatementthe, i.e. the auditor’s best estimate of misstatements in populations, involving the projection of misstatements identified in audit samples to the entire populations from which the samples were drawn.

basically, the auditor make an estimate based on the sample, then auditor judge how likely the estimate is close to actual mistatement, i.e. the difference between  estimated figure and the actual figure, it's like a deviation, am i right to understand it like this?