6 Part 2 of 3 02:30:30 Required information [The following information applies to the questions displayed below.] Types of Audit Procedures for gathering audit evidence Audit evidence includes any information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. Audit evidence is information to which audit procedures have been applied and consists of information that corroborates or contradicts assertions in the financial statements. There are seven audit procedures for gathering audit evidence during the application of risk assess-ment procedures, tests of controls, or substantive procedures. These procedures may be performed individually or in some combination, either manually or using automated tools and techniques such as audit data analytics. The seven types of audit procedures for gathering audit evidence include: (1) inspection, (2) observation, (3) inquiry, (4) confirmation, (5) recalculation, (6) reperformance, and (7) analytical procedures. 1. A set of audit procedures prepared to test assertions for a component of the financial statements is usually referred to as an 2. The direction of testing accounting records from the journals back to the source documents is known as 3. The analysis of plausible relationships (trends, ratio, and reasonableness) is referred to as 4. An external to the auditor from a third party, either in paper form or by electronic or other medium. 5. represents audit evidence obtained as a direct written response may include checking the mathematical accuracy of information. Observation Recalculation Reperformance Tracing Vouching