5.) For each of the following items, identify which of the 5 management assertions is being tested (name only 1):
a) During the completion of the audit, the engagement parter conducts a final review of the footnotes that accompany the
financial statements
b) The audit staff obtains the warehouse managers shipping log and selects a sample of shipments to test that they
have been properly accounted for in the general ledger
c) The audit senior sends confirmation forms to outside warehouses in order to confirm the amount of inventory held
on consignment.
d) The audit senior performs an overall reasonableness test of Interest Expense
e) The audit senior reviews the bank confirmation noting if there are any loans with collateral