(Audit programs and assertions) Assume that you are responsible for developing an audit program for a manufacturing client that sells to over 1,400 customers. You want to ensure your audit program addresses all relevant assertions for sales and accounts receivable. Address the following question in the context of the audit sales and receivables for this manufacturing client.

Required

Explain why auditors translate audit assertions into specific audit objectives when developing an audit program.

If you are auditing the existence and occurrence assertion, what specific audit objectives should be accomplished by developing an audit program? Explain the purpose of each audit objective.