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Attached are examples of audit procedures performed by the auditor. REQUIRED: For each of the audit procedures attached, indicate the type of audit evidence being
Attached are examples of audit procedures performed by the auditor. REQUIRED: For each of the audit procedures attached, indicate the type of audit evidence being obtained by the auditor. Choose your answer from the list below, selecting the best choice for the procedure TYPES OF AUDIT EVIDENCE Inspection of Documents--Tracing 2) Inspection of Documents--Vouching 3) Inspection of Documents-Scanning 4) Physical Inspection 5) Observation 6) Inquiry 7) Confirmation 8) Recalculation C9) Reperformance 10) Analytical Procedures EXAMPLES OF AUDIT PROCEDURES PERFORMED BY AUDITOR (a Review the accounts receivable with the credit manager to evaluate their collectibility (b) Stand by the payroll time clock to determine whether any employee "clocks in" more than one time. (c) Count inventory items and record the amount in the audit files. (d) Obtain a letter from the client's attorney addressed to the CPA firm stating that the attorney (e) Extend the cost of inventory times the quantity on an inventory listing to test whether it is (fObtain a letter from an insurance company to the CPA firm stating the amount of the fire (g) Examine an insurance policy stating the amount of the fire insurance coverage on buildings (h Calculate the ratio of cost of goods sold to sales as a test of overall reasonableness of gross (i)Obtain information about internal control by requesting the client to fill out a questionnaire is not aware of any existing lawsuits accurate. insurance coverage on buildings and equipment and equipment. margin relative to the preceding year G) Trace the total on the cash disbursements journal to the general ledger
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