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Explain Fl'v'E [5} transactions related audit objectives. {'11:} marks] The tollowtng audit procedures were planned by Hawa, a Senior Auditor in the audit of sates

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Explain Fl'v'E [5} transactions related audit objectives. {'11:} marks] The tollowtng audit procedures were planned by Hawa, a Senior Auditor in the audit of sates and collection cycle at lkmal Manufacturing Sdn. Bhd: i. Examine customer order for evidence of customer approval. ii. Recompute prices and extension on sales invoices. iii. |Compare gross margin percentage with previous years. iv. Trace 2!] accounts from the trial balance to accounts on master les. v. Examine for sequence of shipping documents. Required: For each procedure {i} to {v} above, identify: a. The types of audit procedures {for example; test of controtj'. [5 marks] b. The audit objective

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