Question 18. What are the advantages for auditors of using standardised working papers? (i) It ensures that essential procedures are not overlooked (ii) It encourages the use of professional judgement (111) It allows easier delegation of tasks (iv) It is efficient 0. (ii) and (111) (ii), (iii) and (iv) 6. (11) and (iv) . (iii) and (iv) Question 14. In which of the following circumstances would an external confirmation of accounts receivable balances be most likely to take the form of a negative confirmation request? The total trade receivables balance is immaterial A large number of small balances is involved and control risk is low The majority of customers are located overseas There is a tight timetable for the completion of the audit Question 12. Which of the following procedures would be most effective in meeting the audit objective to ensure that the payroll expense is not overstated"? Agreeing authorisation of overtime and calculations of pay for a sample of clockcards Recalculating a sample of payments and agreeing hours worked to related clockcards Selecting employees from the payroll and confirming that independent records are maintained by the personnel department Confirming that monthly payroll reconciliations are authorised by the finance director