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You have been assigned to the audit of Interappliance Inc., a manufacturer of a variety of high-end wireless devices. The preliminary risk assessment for accounts

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You have been assigned to the audit of Interappliance Inc., a manufacturer of a variety of high-end wireless devices. The preliminary risk assessment for accounts receivable/sales set inherent risk at high and internal control risk at low. Below is an excerpt for the accounts receivable/sales audit program: 1. Select 25 accounts over $100,000 and confirm balances with customers. 2. Compare the allowance for uncollectible accounts as a percentage of accounts receivable with previous years. 3. Inquire of management whether there are notes from related parties included in trade receivables. Reguired: For each of the following audit procedures: 0 State the relevant balance-related audit objective{s) (1 mark each) 0 State the type of audit evidence being used (1 mark) 0 Assess the quality of audit evidence (high, moderate or low) (1/2 mark). Justify your response. (1/2 mark) Use the table below and on the next page to answer the

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