QUESTION 1 (30 marks) During the audit of Taylors (Pty) Ltd, a large luxury travel luggage retailer, the following evidence was obtained: 1. The Financial Director informed you that all stock on hand at year-end was owned by Taylors (Pty) Ltd. 2. The Financial Director presented you with an email copy of a confirmation of a balance owed by a customer who lives in Ghana. 3. A list of fixed assets that one of your audit staff compiled reflecting the fixed assets which he had physically inspected at year-end. 4. A work-in-progress certificate from independent contractors currently involved in the construction of additional warehousing for Taylors (Pty) Ltd. 5. A goods received note. REQUIRED: 1.1 Discuss the factors you would consider in assessing the reliability of each of the above evidence for audit purposes. Present your answer under points 1-5 as above. Your answer should include discussions on the source and nature of the evidence. (20 marks) 1.2 Indicate to which assertion each of the above evidence would be most relevant. (5 marks) 1.3 Explain the term corroborative evidence. Give two examples of corroborative evidence (these examples need not relate to Taylors (Pty) Ltd). (5 marks)