Question
There are multiple types of audit procedures that can be performed to obtain audit evidence such as: (1) inspection of records or documents, (2) inspection
There are multiple types of audit procedures that can be performed to obtain audit evidence such as: (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning.
Required: For each of the following specific audit tasks, indicate the type of audit evidence it relates to. Each type can be used more than once. (8 points)
Group of answer choices
1.Discussing the recording of sales discounts in the fourth quarter with the accounts receivable manager.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
2. Examining sales invoices for supporting customer order and shipping documents.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
3. Reviewing the accounts payable subsidiary ledger for debit balances or interest-bearing payables.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
4. Sending a written request to the entity's bank requesting the cash balances in the entity's accounts and any other liability balances that the entity owes the bank.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
5. Comparing the current-year accounts receivable turnover with the accounts receivable turnover for the industry.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
6. Examining a new piece of equipment to ensure that a major acquisition was received and is operational.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
7. Watching the entity's accounting personnel while they prelist cash receipts.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
8. Footing the entity's bank reconciliation and tracing the balance per the books to the general ledger.
[ Choose ] Analytical procedures Confirmation Scanning Inspection of records or documents Recalculation Inquiry Observation Inspection of tangible assets
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