ISA S00 Audit Evidence requires that the auditors should obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base their audit opinion. Required a) Explain the meaning of sufficiency and appropriateness of audit evidence. (2 marks) b) In a situation that uses inspection of records and documents as a type of evidence, distinguish between vouching and tracing and state the assertion addressed by each. ( 2 marks) Christmas City Ltd's bank reconciliation clerk is unable to reconcile the bank balance at 31 January. The balance of the Cash at Bank account before any entries for transactions initiated by the bank was $4770.20 in the company records. The clerk's attempt at the bank reconciliation statement is as follows: Required: c) Prepare a corrected bank reconciliation. (4 marks) d) Describe ONE possible substantive audit procedure the auditor could carry out in respect of each of the following item on the reconciliation: (4 marks) i. Cash balance per bank statement; ii. Outstanding deposits; iii. Dishonoured cheque; and iv. Unpresented cheques