Phase a. Audit activity Examine sales transactions in the sales journal for unusually large amounts and also compare total monthly sales with prior years. b. Understand the unique accounting requirements of the client's industry. Combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented. d. Test the effectiveness of control by comparing a sample of sales invoices to related shipping C. documents and customer sales orders. TT e. Identify whether the accounts receivable exists through direct written communication with the client's customers. f. g. Identify internal controls and evaluate effectiveness, a process called assessing control risk. Use computer software to compare the unit selling price on duplicate sales invoices with an electronic file of approved prices as a test of the accuracy objectives for sales transactions. Phase a. Audit activity Examine sales transactions in the sales journal for unusually large amounts and also compare total monthly sales with prior years. b. Understand the unique accounting requirements of the client's industry. Combine the information obtained to reach an overall conclusion as to whether the financial statements are fairly presented. d. Test the effectiveness of control by comparing a sample of sales invoices to related shipping C. documents and customer sales orders. TT e. Identify whether the accounts receivable exists through direct written communication with the client's customers. f. g. Identify internal controls and evaluate effectiveness, a process called assessing control risk. Use computer software to compare the unit selling price on duplicate sales invoices with an electronic file of approved prices as a test of the accuracy objectives for sales transactions