a. Indicate whether each of the following procedures are a test of controls (TC), analytical procedure (AP) or a test of details of balances (TDB). Select the correct sequence from a to d. Examine vendor's invoices to verify the ending balance in accounts payable. b. Examine the treasurer's initials on monthly bank reconciliations as an indication of whether they have been reviewed. Multiply the commission rate by total sales, and compare the result with commission expense. d. Confirm accounts receivable balances directly with customers. C. O AP, TDB, TC, TC , TC, TDB, AP, TDB TDB, TC, AP, TDB , OTC, TC, AP, TDB ABC Company manufactures and sells laptops to retailers (i.e. Best Buy). Every sale must be recorded on a numerically sequenced shipping advice (bill of lading), which initiates the sales invoice to the retailer. Every duplicate sales invoice (the seller's copy) is also numerically sequenced and must have the "bill of lading" attached to it, as proof of the sale and shipment of the product to the retailer. During the testing of the transaction-related audit objectives; If the auditor is testing for any break in the sequence (missing numbers) in either the invoices or shipping advice, which transaction-related audit objective is being tested? Existence Cutoff Completeness Occurrence If a third-party claims that your audit engagement involved the audit of work that you were part of in redesigning and updating the computer software that accumulates sales and expenditure data, you are being questioned on which of the five threats of independence? Self-review Self-interest Detection risk threat Threat of illegal activity What is the missing transaction cycle? (2 marks) 1. Revenue and collections 2. Acquisitions and payments 3. Human resources and payroll 4. Inventory and distribution Financial Reporting and Assessment Capital Acquisitions and Repayments Computer Assisted Audit Techniques Opportunities and Rationalizations