16. To gather audit evidence about the cash balance per bank as reflected in a

clients bank reconciliation, an auditor would rely upon a copy of the

clients statement from its bank.

T F

17. Cash on hand in a public company business normally has a low inherent risk.

T F

18. The audit evidence considered to have low reliability by auditors is the written

representations that the auditors obtain from management.

T F

19. Auditors usually perform inventory counts for audit purposes three months

from the yearend date by relying on internal control for the interim period to

yearend.

T F

20. If internal control is strong, the extent of substantive audit procedures should

increase in order to reduce detection risk

. T F