Question
Several specific audit procedures are listed below. For each item, identify the type of procedure listed and which of the assertions is being addressed by
Several specific audit procedures are listed below. For each item, identify the type of procedure listed and which of the assertions is being addressed by the procedure.
a) Examine a list of investment securities held by the clients trustee.
b) For a sample of transactions posted to the clients accounts payable subsidiary ledger, examine supporting purchase orders and receiving reports agreeing amounts and information.
c) Send a written request to the clients customer for verification of the amount owed to the client company.
d) Examine the dealers invoice for a new vehicle reported on the clients fixed assets subsidiary ledger.
e) Ask the clients credit manager about the collectability of certain customer account balances.
f) Watch the clients process of conducting the physical inve
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