. What are the essential information that should be included in the bank confirmations? Please list them.

2. How does auditor send out and receive the bank confirmations? What are the procedures and the logic behind the procedures.

3. Regarding accounts receivable confirmations, in addition to sending and receiving it, what additional procedures should the auditor performs as unpredictable procedures?

4. On auditing inventories, when should the auditor observe the inventories? Why? What if it is not feasible on the ideal date to observe? And how do we do the inventory counts? Describe the procedures and reasons for the procedures. How do we the auditor know that we have the completeness of the inventory?

5. For fixed assets and PPE, what are the auditing procedures? How do we the auditor audit the value for the books?

6. Materiality. What are the bases to determine materialities. Why do we need to set materialities? Any financial statement line items that the materiality concern does not apply?