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subject: audit ( act480) I need answers for all the questions please it's almost multiple choice questions please Oit consists of written statements made by

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subject: audit ( act480) I need answers for all the questions please it's almost multiple choice questions please

Oit consists of written statements made by managers of the company under audit. Choose the correct evidence type for the information given below: Watch client employees count inventory to determine whether company procedures are being followed. Count inventory items in the warehouse. Calculate the ratio of cost of goods sold to sales as a test of overall reasonableness of gross margin relative to the preceding year. Choose the correct evidence type for the information given below: Watch client employees count inventory to determine whether company procedures are being followed. buse. Analytical Procedures old to ness of Confirmation ng Inquiries of Client Inspection Observation ext page Physical Examination Recalculation Reperformance AA myportal.aum.edu.kw Choose the correct option for the questions given below: The two most important factors when determining the appropriate sample size in an audit are the auditor's expectation of misstatements and the objectivity of the evidence. OTRUE OFALSE Appropriateness of evidence is a measure of the Oquantity of evidence. Oquality of evidence. Osufficiency of evidence. Omeaning of evidence. Evidence is generally considered appropriate when Oit has been obtained by random selection. Othere is enough of it to afford a reasonable basis for an opinion on financial statements. Oit is relevant to the audit objective being tested. Oit consists of written statements made by managers of the company under audit. estion 3 ot yet answered arked out of 44.00 Flag question There are four places marked on the table below. Please explain them using your own examples using at least 100 words for each mark TABLE 6-4 Appropriateness of Types of Evidence Criteria to Determine Appropriateness Effectiveness of Auditor's Type of Independence Client's Internal Direct Qualifications Objectivity Evidence of Provider Controls Knowledge of Provider of Evidence Physical High (auditor does) Varies High Normally high High examination (auditor does) Confirmation High Not applicable Low Variesusually high High Inspection Variesexternal documents Varies Varies High more independent than internal documents Analytical proce- High/low (auditor does/client Varies Low Normally high (auditor Varies-depends on dures responds) does/client responds) reliability of data Inquiries of client Low (client provides) Not applicable 4 Low Varies 2 Varies-low to high Recalculation High (auditor does) Varies High High (auditor does) Reperformance High (auditor does) Varies High High (auditor does) High Observation High (auditor does) Varies High Normally high Medium (auditor does) Copyright 2020 by Pearson Education, Inc. Low 1 High 3 Discuss the following characteristics of reliable evidence using your own examples (300 words in total, 150 each) 1. Independence of provider 2. Effectiveness of client's internal controls Please use the formatting for a better presentation of your answers. A B I Ff

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