1. What are the levels of persuasiveness of corroborating evidence? Which level will provide the most reliable evidence to auditors? Explain.

2. The audit program for accounts payable for a client has been drafted, ensuring that the account is not understated. The auditor believes that the key assertion at risk is cut-off and needs to be tested by sending confirmations to creditors.

i.Explain whether the current audit process is appropriate. If not, suggest the appropriate process.

ii.Suggest one sampling method that can be used to test cut-off assertion. Justify your answer.

iii. The results of the testing of accounts payable are as follows.

Stratum	Error Found	Sample Total Value	Stratum Total Value
1	$15,560.00	$156,500.00	$216,004.00
2	$5,946.00	$56,420.00	$85,641.00
3	$11,253.00	$78,560.00	$123,560.00
4	$7,200.00	$15,400.00	$35,800.00
Total	$39,959.00	$306,880.00	$461,005.00

If the overall tolerable error was set at $62 000, what action would you take?