Whilst performing an audit engagement, you gathered audit evidence through the following engagement procedures:

1. Verbal confirmation from the cashier that she records all cash received.
2. Observation of the procedures at the tender opening meeting.
3. Re-performance of the cash reconciliation at the end of the day.
4. Inspection of the tender register to verify that it was signed by the two representatives opening the tenders.
5. Comparing the current years sales with that of the prior year.

Required

Discuss the nature, source and reliability of the evidence obtained from the above procedures.

Use the table lay-out below to answer this question.

Engagement procedureNature of evidenceSource of the evidenceReliability1 2