In planning the audit of Tralfaz Co., a manufacturer of animal feeds and fertilizers, a staff member prepares the following audit program for the substantive test of the accounts receivable balance:

a. For each step in the audit program identify - The audit objective(s) being addressed - The type of audit procedure being performed - The nature of the evidence to be obtained

b. Identify the deficiencies in the audit program.

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Step Audit Procedure 1 2 34 Trace a sample of transactions from the sales journal through the general ledger. Review minutes of board of directors meetings for evidence of factoring or other restrictions. Confirm several accounts. Observe receiving clerks for evidence of pilfering and non-compliance with control procedures.