Final answer:
The three steps for the test of controls using attribute sampling include Planning the test, Performing the sampling and testing, and Evaluation of the sample results to conclude on control effectiveness.
Step-by-step explanation:
The three steps for the test of controls using attribute sampling in an audit are as follows:
- Planning: This initial step involves defining the objectives of the test, the population from which the sample will be drawn, the size of the sample, and the risk levels for assessing control effectiveness.
- Performing: This step involves randomly selecting the sample from the population and testing the selected items to see if the control was effective or if there were any deviations.
- Evaluation: In this final step, the auditor assesses the sample results to determine the rate of deviation and evaluates whether the results are acceptable. This allows the auditor to draw conclusions about the overall effectiveness of the control being tested.
Attribute sampling is a key concept in the test of controls, and understanding these three steps is crucial for effective audit procedures.