Below are three audit procedures performed and the assertion that the auditor was asked to evaluate.

REQUIRED
a) For each procedure performed, explain what specific type of procedure it is.
b) For each procedure performed, considering the assertion, state how persuasive the audit evidence is (high, medium or low). Explain why.

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Audit Procedure 1. Auditor went into a warehouse to personally assess the extent of damage that a flood, due to a broken water pipe, caused to an inventory of pianos. 2. Auditor checked if the totals were summed correctly on an Excel spread- sheet that the client used to calculate the amortization expense. 3. Auditor discussed with the client the approach taken to estimate the asset impairment charge. Assertion to be tested Valuation Accuracy Valuation