Question
Corroboratory evidence inspected by an auditor in the course of an audit includes: a) a letter from the bank confirming the companys bank balance, which
Corroboratory evidence inspected by an auditor in the course of an audit includes: a) a letter from the bank confirming the companys bank balance, which is sent directly to the auditor b) the creditors monthly statement from the companys files c) copies of sales invoices sent to customers from the companys files d) delivery notes, sent with goods, receipted/signed by customers and held in the companys office e) title deeds for the companys properties, which are held at the companys safe deposit box at the bank f) a bank statement from the clients files g) material requisitions filed in a storeroom h) a board minute authorising purchase of new equipment. Required: For each item, discuss and comment on its reliability as audit evidence. Is the evidence highly reliable, reliable or of low reliability?
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