Audit objectives and procedures Below are two lists you should use to match the five procedures they enlist Objectives or Assertion Types of Evidence a-Existence 1- Interview b-Totality j- Confirmation c-Cutoff k- Physical inspection d-Presentation and dissemination 1- Observation e-Rights and obligations m- Analytical review f- Valuation n-Recompute 8- Accuracy 0- "Reperformance" h- Classification P- Documentation For each of the following audit processes, indicate the objective (first list) and the type of evidence (second list) that applies. Select only one objective and one procedure per situation, even if you find that several apply. Use thopetters a up to h to select the target you apply. For applicable types of evidence, use the letters Pahrough p. Write down the objectives and Kypes of evidence for each. 1- Counting of the money that is in the petty cash. 2-Locate in the physical plant a sample of final inventory selected from the client's subsidiary. 3- Obtain a letter of representation from the client at the conclusion of the audit process. 4- Review of the purchase journal to track a consecutive number of inventory receipt reports for cach purchase made over several days before and after the closing date. 5- Investigate accounts receivable in arrears of more than 120 days and discuss their late status with authorized customer personnel